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Bailout Plan - A Victory That Ended In Defeat & Sellout Of The People, We need to Remember the Yes voters in Congress on Nov 4. KICK OUT!

jo56
post Sep 28 2008, 03:40 PM
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Bailout Bill - 1st Draft - 106 pgs 9-28-08
http://money.cnn.com/2008/09/28/news/pdf/index.htm

Rescue bill revealed
http://money.cnn.com/2008/09/28/news/econo...sion=2008092815

This post has been edited by jo56: Oct 17 2008, 04:37 PM
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amazed!
post Sep 28 2008, 04:43 PM
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Regarding the details, I'm not too impressed.

It's those "certain circumstances" kinda things.
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Leslie Landry
post Sep 28 2008, 06:52 PM
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This post has been edited by Leslie Landry: Sep 28 2008, 06:53 PM
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jo56
post Sep 28 2008, 11:47 PM
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http://dandelionsalad.wordpress.com/2008/0...ker-last-night/


QUOTE
HOUSE LEADERSHIP INVOKES “MARTIAL LAW,” FORCING MEMBERS TO VOTE ON KEY BILLS WITHOUT FULL KNOWLEDGE OF WHAT THEY ARE VOTING ON: MOVE REPRESENTS EROSION OF THE DEMOCRATIC PROCESS


This post has been edited by jo56: Sep 29 2008, 10:39 AM
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grizz
post Sep 29 2008, 03:58 AM
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aka Oceans Flow


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Tough talk from Congresswoman Marcy Kaptur. handsdown.gif

9/28/08 ~



http://www.youtube.com/watch?v=oAADyc6t4nY

9/23/08 ~



http://www.youtube.com/watch?v=tMCZ8JeEpUw

9/17/08 ~



http://www.youtube.com/watch?v=mbD62gNi9WE
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Sanders
post Sep 29 2008, 04:33 AM
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handsdown.gif
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p.w.rapp
post Sep 29 2008, 06:04 AM
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QUOTE (Sanders @ Sep 29 2008, 10:33 AM) *
handsdown.gif


handsdown.gif
indeed!
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lunk
post Sep 29 2008, 08:48 AM
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Holy Toledo!

I don't know why, but while watching those videos,
this song started playing in my head:

http://www.youtube.com/watch?v=SnKbPSRyDo8

cheers, lunk
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bill
post Sep 29 2008, 09:07 AM
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I am reading it now


They actually use the word "golden parachute" but don't define it


there are lots of weasel clauses

such as "preventing unjust enrichment" page 9


sounds good until you read the 'exceptions' which will cover just about every institution that will get taken over


I went to the FDIC site today

new rules for insured amounts dated Sept 26, 2008

if you put additional beneficieries on the account you can be inswured up to $500,000 (with 5 beneficieries)
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jo56
post Sep 29 2008, 10:32 AM
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A little more of a breakdown of this bill FYI:
http://z4.invisionfree.com/The_Great_Decep...;st=0&#last

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jo56
post Sep 29 2008, 11:07 AM
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Go Viral: STOP THE BAILOUT OR.... DEPRESSION?
http://ca.youtube.com/watch?v=lsC2k9opOP0




CONGRESS: THINK BEFORE YOU ACT!
http://market-ticker.denninger.net/

QUOTE
You are being asked to pass a $700 billion “bailout” or “rescue” package and are told by your leadership that it is “necessary” to prevent a catastrophe in the financial markets and, by extension, on Main Street.

Please think carefully about the following facts before you vote: ·

Public opinion is running anywhere from 100:1 to 300:1 against passing this bill, according to sources on Capitol Hill. You must return home after you pass this package to ANGRY constituents with an election less than a month away. Given the massive size of this package, the fact that it rewards the guilty on Wall Street and does nothing to address the cause that anger is fully justified.

Non-financial private debt is $32.4 trillion dollars1 as of 2Q 2008. Household debt is $14.0 trillion. Households lost 400 billion dollars last quarter. You wish to add $700 billion more in losses (via government obligations that taxpayers must cover) this quarter; this package is insignificant against the total bad credit outstanding. Federal capacity to “bail the system out” is insufficient.

It will not and cannot work because the issue is trust, not money. There is lots of money (and credit) but it is being hoarded throughout the system. Consumer savings have gone from nothing to the highest rate ever in American history – in the space of a few months. Money is flying into Treasuries because of lack of trust, not lack of money. You must fix the cause of the problem, not apply band-aids.

Commercial paper is being cited as the “lockup” that threatens an imminent financial train wreck. The truth is that commercial paper rates for “AA” rated non-financial firms is placing at a rate half that of a year ago as the Fed Funds target has been dropped from 5.25 to 2%2. With risk having increased the rate of return offered is lower? This is where the stress is coming from; at last summer’s rates this paper would roll. You are being gamed by Paulson and Bernanke; look at the table in the reference and you will see that even for “threatened sectors” rates are not materially higher than last year.

If you pass this bill and the market implodes you will be held directly responsible. There are records of thousands of signatures across seven petitions faxed to you (at my expense) dating back to October of 2007 on this topic. Many experts, including Nouriel Roubini, “Mish” Shedlock, Dr. Faber, The Weiss Institute and over 160 economists have warned Congress that this proposed plan will not work. Are you prepared to face a full-page ad in the Wall Street Journal and/or USA Today exposing these facts?

There are alternatives that will work; they all involve restoring trust and using existing market mechanisms to resolve insolvent institutions.3 While I am not particularly partial to my view on how we resolve “failed” institutions, addressing the root of the problem – lack of trust – is paramount. Three elements are involved here, they are obvious, and they must be fixed or you will FAIL.

We only get one more shot at this; we have spent over $1.6 trillion thus far (by some estimates; $500 billion by others) attempting the same thing over and over again and it has not worked.

DO NOT PASS THIS BILL AS IT DOES NOT ADDRESS THE CAUSE AND WITHOUT DOING SO YOUR EFFORTS ARE DESTINED TO FAIL. THE VOTERS ARE RIGHT AND WILL HOLD YOU TO ACCOUNT SHOULD YOU THROW $700 BILLION INTO A FINANCIAL HURRICANE.

http://www.federalreserve.gov/releases/z1/Current/z1r-1.pdf
http://www.federalreserve.gov/releases/cp/
http://market-ticker.denninger.net/archive...THINK!.html


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Sanders
post Sep 29 2008, 11:35 AM
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Thanks Jo for bringing all this to us handsdown.gif yes1.gif (btw hope you are doing well salute.gif )

I have to force myself to watch Carl-the-ticker-guy, something about him ... he seems so full of himself. I could listen to Dr. Paul or Peter Schiff hours on end but Carl rubs me the wrong way for some reason - but that is simply a personality thing ... the things he is saying are right on the money from what I can tell, and he's way more detailed and deep in his assessments than anyone else I've seen on the web.

I'm appreciative, but, (@ the ticker-guy:) could you quit trying to be a web "star"??, the substance of what you speak speaks for itself.

(Currently somewhat drunk: Sanders biggrin.gif )
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lunk
post Sep 29 2008, 12:14 PM
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I've been reading "The market ticker" for some time.
Karl has real street smarts with economics.
I have also noticed the gradual change, that we all go through,
of "waking up" slowly happening there, too... I think.
He used to complain about the tinfoil hat moon bats, that would
flock to his forums and talk about everything, except the stock market.
I don't know if he is as skeptical these days.

I try to keep an ear on him, anyway.

imo, lunk
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jo56
post Sep 29 2008, 12:39 PM
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You're Going To Destroy A Worldwide Economy! Ron Paul



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jo56
post Sep 29 2008, 01:37 PM
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Watch the HOUSE vote live:
http://www.cnn.com/video/live/live.html?stream=stream3


Senate Vote is said to happen on Wednesday.

H.R. 3997 (Will be on the THOMAS legislation site eventually)

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jo56
post Sep 29 2008, 02:23 PM
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THE BILL WAS DEFEATED IN THE HOUSE TODAY! YES!

Now, our job is to search out the roll call on this vote, to see who the TRAITORS ARE IN CONGRESS WHO VOTED "YES" ON THIS BILL, AND KICK EVERY SINGLE ONE OF THEM OUT OF CONGRESS.

THEIR FIRST FAILURE IS BEING STUPID.

THEIR SECOND FAILURE IS GOING ALONG WITH VOTING ON SOMETHING THEY HADN'T READ NOR UNDERSTOOD, AND UNDER A "SKY IS FALLING SCENARIO". ANYONE IN THEIR RIGHT MIND KNOWS YOU DON'T MAKE A MAJOR DECISION UNDER THIS TYPE OF PRESSURE.


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jo56
post Sep 29 2008, 02:34 PM
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Roll Call Vote: MAKE NOTE OF THOSE WHO VOTED "YES"
http://clerk.house.gov/evs/2008/roll674.xml


It's time to fire many of these Congressmen who voted "Yes" on this bill. They have shown by this vote that they have NO LEADERSHIP SKILLS, WHATSOEVER. THEY SIMPLY CAVE IN TO PANIC MESSAGES FROM THEIR MASTERS WHO WANT THEM TO VOTE A CERTAIN WAY, AND YESTERDAY!

THIS IS NO LONGER ACCEPTABLE! FIRE THESE FOOLISH MEN AND WOMEN IN NOVEMBER, 2008. THEY HAVE INCRIMINATED THEMELVES TODAY IN THIS VOTE. TAKE ACTION AMERICA!


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George Hayduke
post Sep 29 2008, 02:55 PM
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Got aliens?


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Yup. It's official. The gavel has sounded. The bill was defeated.
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Omega892R09
post Sep 29 2008, 02:57 PM
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QUOTE (jo56 @ Sep 27 2008, 04:34 PM) *
Roll Call Vote: MAKE NOTE OF THOSE WHO VOTED "YES"
http://clerk.house.gov/evs/2008/roll674.xml

Caught that.

I note there is a Pelosi in the Ayes.
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dMz
post Sep 29 2008, 03:11 PM
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Dems- Wexler, Pelosi, a Kennedy...

Is this the correct legislation though? The way these worthless fucks counter-name their "resolutions" you never know...

"H R 3997 RECORDED VOTE 29-Sep-2008 2:07 PM
QUESTION: On Concurring in Senate Amendment With An Amendment
BILL TITLE: To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes"


I found this from a senate.gov link just now:

Emergency Economic Stabilization Act of 2008
http://www.rules.house.gov/110/text/110_hr..._amnd_samnd.pdf

from:
http://thomas.loc.gov/

This looks like a good resource:
Search Bill Summary & Status for the 110th Congress (2007-2008)

http://thomas.loc.gov/bss/110search.html

Does anyone know of a good House & Senate voting summary page?

EDIT: Who TF is Rethuglican Weller? Toss the coward over with the "ayes!"

EDIT2: The .PDF above would appear to have been drafted by a "JMW":

"F:\JMW\FS110\EMERG\AMEND_001.XML" at the .PDF header.
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