Comments on: An Assessment of Bailout Bill Options from a Former Congressional Staffer http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html Mon, 23 Nov 2009 00:29:23 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Peggy McGilligan http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18542 Peggy McGilligan Tue, 30 Sep 2008 21:20:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18542 Did you know many of the fat cats who circulate from board to board and from job to job throughout the financial industry are also members of the Bilderberg Group and or the Trilateral Commission, founded respectively in 1954, and in 1973, in New York City? When someone takes your money and steals your car, it makes an impression. When they belong to such a secret political clique, it leaves an indelible impression. Many elected officials even belong to these cabals, hence the secrecy. When Bill Clinton eased banking restrictions, he dished out $8-billion dollars for community reinvestment loans. When the financing schemes fell through, as is their wont whenever 30-million Mexican nationals buy inflated properties and default, it left banks in the lurch. Hillary Clinton counted on the loan giveaways to buy votes. Interestingly enough, had Hillary secured the nomination; she, instead of Barack Obama would preside over the bailout. So, where’s that $8-bilion plus dollars? Where’s Hillary? Why the caveat in Section 8 of the bailout: “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.” The Global Initiative people (code speak for car thieves) took my money; they stole my car. If you or I did half the things these people have done, we’d be serving consecutive life sentences. Wise up, get angry, and let the bubble burst. Besides, Ben Stein says we’re going to be just fine. You have my word on it too. Gentlemen, I want my money back: http://theseedsof9-11.com Did you know many of the fat cats who circulate from board to board and from job to job throughout the financial industry are also members of the Bilderberg Group and or the Trilateral Commission, founded respectively in 1954, and in 1973, in New York City? When someone takes your money and steals your car, it makes an impression. When they belong to such a secret political clique, it leaves an indelible impression. Many elected officials even belong to these cabals, hence the secrecy. When Bill Clinton eased banking restrictions, he dished out $8-billion dollars for community reinvestment loans. When the financing schemes fell through, as is their wont whenever 30-million Mexican nationals buy inflated properties and default, it left banks in the lurch. Hillary Clinton counted on the loan giveaways to buy votes. Interestingly enough, had Hillary secured the nomination; she, instead of Barack Obama would preside over the bailout. So, where’s that $8-bilion plus dollars? Where’s Hillary? Why the caveat in Section 8 of the bailout: “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.” The Global Initiative people (code speak for car thieves) took my money; they stole my car. If you or I did half the things these people have done, we’d be serving consecutive life sentences. Wise up, get angry, and let the bubble burst. Besides, Ben Stein says we’re going to be just fine. You have my word on it too. Gentlemen, I want my money back: http://theseedsof9-11.com

]]> By: Brian http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18523 Brian Tue, 30 Sep 2008 20:10:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18523 "Remember that when a house is burning down, and someone proposes doing something, and another proposes doing nothing, chances are that something will win out, no matter how bad it is, simply because doing nothing is not an option."<br/><br/>Sure ... except if that something is throwing gasoline on the fire.<br/><br/>Brian “Remember that when a house is burning down, and someone proposes doing something, and another proposes doing nothing, chances are that something will win out, no matter how bad it is, simply because doing nothing is not an option.”

Sure … except if that something is throwing gasoline on the fire.

Brian

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18475 Anonymous Tue, 30 Sep 2008 16:01:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18475 President Bush to the Wall Street crooks and their lobbyists who will make a killing off the financial bailout: “I love you.” President Bush to the Americans who will have to pay of this outrage: “go screw yourself.” President Bush to the Wall Street crooks and their lobbyists who will make a killing off the financial bailout: “I love you.” President Bush to the Americans who will have to pay of this outrage: “go screw yourself.”

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18469 Anonymous Tue, 30 Sep 2008 15:03:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18469 Congress must hold hearings.<br/><br/>The administration plan has gone down —for now— but hearings are needed to get a new plan —a good plan— worked out in committee. When you call you senators and representatives again, demand hearings on the financial crisis.<br/><br/>We need some economists to testify. Congress must hold hearings.

The administration plan has gone down —for now— but hearings are needed to get a new plan —a good plan— worked out in committee. When you call you senators and representatives again, demand hearings on the financial crisis.

We need some economists to testify.

]]> By: doc holiday http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18466 doc holiday Tue, 30 Sep 2008 14:46:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18466 My condition for passage of any bailout will be that Paulson and Bernanke are fired immediately, Bush resigns and then Congress shall sit down for months and re-write legislation that is clearly written in language that a 5th grader understands -- because 5th graders are the ones that will grow up and wonder why they live in a country that is second rate -- and they will question why this congress was filled with so much corruption, which is reflected in the lowest approval rating of any congress in American history. The future history lessons for 5th graders will focus on the lack of patriotism associated with these retarded and corrupt group of rich fat cats -- that have failed America! What is wrong with the taxpayers, don't they see how this will burden them????????????<br/><br/>That was rant mode, need clarity?? My condition for passage of any bailout will be that Paulson and Bernanke are fired immediately, Bush resigns and then Congress shall sit down for months and re-write legislation that is clearly written in language that a 5th grader understands — because 5th graders are the ones that will grow up and wonder why they live in a country that is second rate — and they will question why this congress was filled with so much corruption, which is reflected in the lowest approval rating of any congress in American history. The future history lessons for 5th graders will focus on the lack of patriotism associated with these retarded and corrupt group of rich fat cats — that have failed America! What is wrong with the taxpayers, don’t they see how this will burden them????????????

That was rant mode, need clarity??

]]> By: Victor http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18459 Victor Tue, 30 Sep 2008 13:45:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18459 Yves I just want to say I agree with you completely. Your Christian Science Monitor article is right on! Keep up the good work. And let's pray that our legislators do some research -- and some hard thinking -- before taking another vote. Yves I just want to say I agree with you completely. Your Christian Science Monitor article is right on! Keep up the good work. And let’s pray that our legislators do some research — and some hard thinking — before taking another vote.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18458 Anonymous Tue, 30 Sep 2008 13:42:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18458 First: Thank you Lune for this invaluable overall perspective. I mean that. And, I also am going to criticize one thing you write; namely, that some in Congress voted against "because their pet issue (e.g. foreclosure assistance, tax cuts, regulatory changes, etc. etc.) wasn't included."<br/><br/>I understand the use of the phrase 'pet issue' with regard to the Republican proposal to cut capital gains taxes. To date at least, I've not seen a single explanation for how such tax cuts can assist in this crisis.<br/><br/>On the other hand, foreclosure assistance as well as regulatory changes are decidedly NOT 'pet' issues. One may or may not agree with them. But, each stands as an essential proposition that could have significant effects in moving forward.<br/><br/>Yes, "Congress" and "Pet issues" are pieces of language that, over the past two decades of Congressional insipidity have become correlates. But, I don't think we'll find Congress or the rest of us moving beyond that sad description if we ourselves trivialize significant positions through casual repetition. Instead, we'll only find ourselves and Congress and the media discussion continue to be stuck in ideological horse puckey. First: Thank you Lune for this invaluable overall perspective. I mean that. And, I also am going to criticize one thing you write; namely, that some in Congress voted against “because their pet issue (e.g. foreclosure assistance, tax cuts, regulatory changes, etc. etc.) wasn’t included.”

I understand the use of the phrase ‘pet issue’ with regard to the Republican proposal to cut capital gains taxes. To date at least, I’ve not seen a single explanation for how such tax cuts can assist in this crisis.

On the other hand, foreclosure assistance as well as regulatory changes are decidedly NOT ‘pet’ issues. One may or may not agree with them. But, each stands as an essential proposition that could have significant effects in moving forward.

Yes, “Congress” and “Pet issues” are pieces of language that, over the past two decades of Congressional insipidity have become correlates. But, I don’t think we’ll find Congress or the rest of us moving beyond that sad description if we ourselves trivialize significant positions through casual repetition. Instead, we’ll only find ourselves and Congress and the media discussion continue to be stuck in ideological horse puckey.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18444 Anonymous Tue, 30 Sep 2008 10:51:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18444 Funny how our rulers always eventually get what they want, directly or indirectly, by hook or crook.<br/><br/>Their tendency is going to be, to think bigger and bigger. Not just preposterously large currency swaps with foreign central banks, but ... wait for it ... a global central bank, that can emit funny money in 31 Baskin-Robbins flavors.<br/><br/>Mmmmm, fried funny-money ice cream balls! They's finger-lickin' good!<br/><br/>-- Juan Falcone Funny how our rulers always eventually get what they want, directly or indirectly, by hook or crook.

Their tendency is going to be, to think bigger and bigger. Not just preposterously large currency swaps with foreign central banks, but … wait for it … a global central bank, that can emit funny money in 31 Baskin-Robbins flavors.

Mmmmm, fried funny-money ice cream balls! They’s finger-lickin’ good!

– Juan Falcone

]]> By: Jojo http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18443 Jojo Tue, 30 Sep 2008 10:45:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18443 @Randy - Yes that is incredible! The FED seems to have awarded itself the power to do anything it wants and Congress doesn't give a sh@t. If they don't have any real money, they will just order some more from Treasury.<br/><br/>Also, came across this on Mish's blog:<br/><br/><b>Federal District Court Obstructs Lawsuits Challenging Authority for Bailouts<br/><br/>Judiciary Scuttles Motions Demanding U.S. Produce Evidence of Constitutional Authority</b><br/><br/><a HREF="http://www.wethepeoplefoundation.org/Update/Update2008-09-26.htm" REL="nofollow">full article</a><br/><br/>===================== @Randy – Yes that is incredible! The FED seems to have awarded itself the power to do anything it wants and Congress doesn’t give a sh@t. If they don’t have any real money, they will just order some more from Treasury.

Also, came across this on Mish’s blog:

Federal District Court Obstructs Lawsuits Challenging Authority for Bailouts

Judiciary Scuttles Motions Demanding U.S. Produce Evidence of Constitutional Authority

full article

=====================

]]> By: randy http://www.nakedcapitalism.com/2008/09/assessment-of-bailout-bill-options-from.html#comment-18441 randy Tue, 30 Sep 2008 10:32:00 +0000 http://www.nakedcapitalism.com/2008/09/an-assessment-of-bailout-bill-options-from-a-former-congressional-staffer/#comment-18441 The government has already taken action without CONgress approval. Yesterday, the FED injected $630B into capital markets. Yes, $630B!<br/><br/>How's that for taxation without representation! The government has already taken action without CONgress approval. Yesterday, the FED injected $630B into capital markets. Yes, $630B!

How’s that for taxation without representation!

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