Urgent - For Us Residents, Save Your Nation Now!

[fibonelli]

The fascists don't give up.

The bailout is to rescue foreign bad debt!!

YouTube - **FLASH** The REAL REASON For The Bailout (Hint: FOREIGNERS)

The TRUTH About The Bailout - The Market Ticker

IF THIS BILL PASSES YOU WILL WIND UP EATING $700 BILLION OR MORE - REMEMBER, THIS IS A REVOLVING CREDIT LINE, NOT A MAXIMUM AMOUNT - OF FOREIGN BAD DEBT FROM THE CHINESE AND ELSEWHERE.

Congressfolk Who Supported The Bailout

YOU ARE NOT GOING TO BELIEVE IT. THIS BAILOUT BILL IS NOT ABOUT AMERICAN BANKS OR ASSETS. FROM THE BILL:

THE TRUTH WAS OUTED ON KUDLOW'S 9/30 SHOW BY BRAD SHERMAN (D-CA). WATCH THE VIDEO, THEN RAISE HELL RIGHT NOW WITH YOUR CONGRESSPEOPLE. THIS BILL MUST NOT PASS.

"Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California

CONTACT SENATOR SHELBY [(202) 224-5744] AND SENATOR BUNNING [(202) 224-4343] RIGHT NOW AND TELL THEM THEY MUST FILIBUSTER THIS BILL; THIS BILL WAS WRITTEN TO BAIL OUT THE G-DAMN CHINESE, NOT AMERICANS, AND WE WILL NOT ALLOW THIS!


Also, contact your congress and senate representative NOW

 

[fibonelli]

A good solution to the massive problem must address the following issues

-- make fraudsters eat the bulk of their losses;

-- use public funds only "to sustain the orderly operation of the financial system;"

-- minimize speculative finance; the root of the current problem;

-- "minimize moral hazard" - the Paulson (and Bernanke) "put" picking up where Greenspan left off;

-- let delinquent homeowners stay in their homes and pay rent;

-- curtail executive compensation for companies getting government aid;

-- make a key Fed responsibility the prevention of asset bubbles; reinstitute regulations to do it; Glass-Steagall for starters that prohibited commercial and investment banks and insurance companies from combining;

-- impose a modest financial transactions tax to curb excesses and raise revenue;

-- trade assets, like credit default swaps, openly on exchanges to establish fair value for them;

-- impose strict limits on leverage;

-- keep Fannie and Freddie public institutions; their status before being privatized in 1968; and

-- restructure the Fed democratically; a far better solution is abolish it and let government control its own money; use it responsibly for all Americans, not just the privileged few.

Grand Theft America.
Grand Theft America.
Financial Crime of the Century
by Stephen Lendman

 

[fibonelli]

DO NOW!

Suggested Fax/email Text

Fax Title: Rep. Brad Sherman On Bailing Out Foreign Investors

Dear senator/congress representative

Today I listened to Representative Brad Sherman on how the Paulson proposal will purposely bail out foreign investors.

Here is the shocking text as translated from CNBC in an exchange with Larry Kudlow.

Rep. Brad Sherman, D California:

Larry I am glad you have a few seconds to talk to someone who voted against this bill. I am not changing my mind. I want to thank my colleagues who stood up to the purveyors of panic and voted against a very bad bill and voted with 400 eminent economists including three Nobel laureates who wrote to us and said don't panic, don't act hastily, hold hearings, work carefully. The fact is Larry if you read this bill, even you would have voted against it.

It provides hundreds of billions of dollars of bailouts to foreign investors. It provides no real control of Paulson's power. There is a critique board but not really a board that can step in and change what he does. It's a $700 billion program run by a part-time temporary employee and there is no limit on million dollar a month salaries.

Larry Kudlow:

Let me just ask you one question. I think you are referring to foreign banks headquartered in the United States. I do not see how foreign investors get bailed out.

Rep. Brad Sherman:

Larry you have to read the bill. It's very clear. The Bank of Shanghai can transfer all of its toxic assets to the Bank of Shanghai of Los Angeles which can then sell them the next day to the Treasury. I had a provision to say if it wasn't owned by an American entity even a subsidiary, but at least an entity in the US, the Treasury can't buy it. It was rejected.

The bill is very clear. Assets now held in China and London can be sold to US entities on Monday and then sold to the Treasury on Tuesday.

Paulson has made it clear he will recommend a veto of any bill that contained a clear provision that said if Americans did not own the asset on September 20th that it can't be sold to the Treasury.

Hundreds of billions of dollars are going to bail out foreign investors. They know it, they demanded it and the bill has been carefully written to make sure that can happen.

Senator, please scrap the Paulson proposal in entirety and try something that might work, that is constitutional, and does not put taxpayer money at risk.

US citizens should not spending $700 Billion to bail out foreign investors. The actions of Treasury Secretary Paulson go far beyond disgusting, to outright betrayal of US citizens.

I ask that you take a clear stand against this un-American bill by not only voting against it, but to Filibuster the bill until it is given up for dead. I cannot and will not vote for any legislator who votes for this bill, or even allows it to be brought up for vote.

Senator, the United States of America is depending on you to block this bill for the good of the country.

Your Name
Your Phone Number
Your Email Address

Mish's Global Economic Trend Analysis: Rep. Brad Sherman On Bailing Out Foreign Investors

Contacting the Congress
Contacting the Congress

Mish's Global Economic Trend Analysis: How To Stop A Run On The Banks
Scroll down article for full list of contact numbers for congress and senate representatives

 

[fibonelli]

Hugh Hendry, a talented British Asset Manager, is against the bailout!

Need to Avoid a Depression: Hendry
"This economy, it will have a recession. It will have a meaningful recession. But you'd have a chance of averting a depression," Hugh Hendry, CIO of Eclectica said when commenting on the Senate's passage of the U.S. rescue plan.

Video- CNBC.com
Watch the Video and contact your Congress Rep NOW!

 

[fibonelli]

$700bn has been spunked down the toilet and the Dow has crashed 12% since the bill was passed.

Read this article in full
CONgress: Wake Up NOW - The Market Ticker

Here's a summary of the key issues
The credit markets, along with consumers and banks, are literally choking on all the liquidity being shoved down their throats. It has done exactly nothing to address the problem and won't because:

* Banks and other financial institutions have been repeatedly proven liars in terms of their financial strength and balance sheets. Pick a financial institution and you will find that almost without exception they have claimed "exposure" to bad debt that is a tiny fraction of what is later shown to be accurate. Nobody can fairly evaluate a firm's financial strength so long as this continues; ergo, nobody can have a reasonable degree of trust to lend to such an institution. In addition even settled black-letter law in some regards has been shown to be wantonly (and perhaps feloniously) ignored; Lehman, as an example, is alleged to have transferred segregated customer funds and securities to a Cayman Islands subsidiary shortly before it went under, effectively locking up funds and securities that are supposed to be safe from a bankruptcy proceeding.
* Consumers are tapped out. The House-cum-ATM machine is empty and cannot be refilled. Consumers will retrench severely, even though they have had to be dragged kicking and screaming into that mode. Nearly 18 months ago I detected the trend in the consumer credit data. This recession cannot resolve until the over-leveraged state of the consumer is rectified. That requires that the bad debt be defaulted and thus cleared. Consumers are more than 2/3rds of the economy.
* It is not possible to reflate the credit bubble. We must deal with the reality that the bad debt in the economy - no matter who holds it - must be defaulted.
* There is no "liquidity trap" into which to fall; we are already in the hole as there is no more capacity to borrow; we have exceeded the maximum safe amount of lending that can be accommodated in the economy. When one is in a hole, the first rule is to stop digging.

********************************************************************************************************************
Contact your Congress and Senate Representative NOW

 

[KillPhil08]

Five Friends Vote (Uncensored) Video

 

[£10kLoser]

Your website is Go-To-Edinburgh.com - 'Launching in August'?

August which year?

 

[KillPhil08]

2009. Until then. No one go to edinburgh.

 

[forex999]

fibo - why are you so anti usa?

 

[Atilla]

$700bn has been spunked down the toilet and the Dow has crashed 12% since the bill was passed.

Read this article in full
CONgress: Wake Up NOW - The Market Ticker

Here's a summary of the key issues
The credit markets, along with consumers and banks, are literally choking on all the liquidity being shoved down their throats. It has done exactly nothing to address the problem and won't because:

* Banks and other financial institutions have been repeatedly proven liars in terms of their financial strength and balance sheets. Pick a financial institution and you will find that almost without exception they have claimed "exposure" to bad debt that is a tiny fraction of what is later shown to be accurate. Nobody can fairly evaluate a firm's financial strength so long as this continues; ergo, nobody can have a reasonable degree of trust to lend to such an institution. In addition even settled black-letter law in some regards has been shown to be wantonly (and perhaps feloniously) ignored; Lehman, as an example, is alleged to have transferred segregated customer funds and securities to a Cayman Islands subsidiary shortly before it went under, effectively locking up funds and securities that are supposed to be safe from a bankruptcy proceeding.
* Consumers are tapped out. The House-cum-ATM machine is empty and cannot be refilled. Consumers will retrench severely, even though they have had to be dragged kicking and screaming into that mode. Nearly 18 months ago I detected the trend in the consumer credit data. This recession cannot resolve until the over-leveraged state of the consumer is rectified. That requires that the bad debt be defaulted and thus cleared. Consumers are more than 2/3rds of the economy.
* It is not possible to reflate the credit bubble. We must deal with the reality that the bad debt in the economy - no matter who holds it - must be defaulted.
* There is no "liquidity trap" into which to fall; we are already in the hole as there is no more capacity to borrow; we have exceeded the maximum safe amount of lending that can be accommodated in the economy. When one is in a hole, the first rule is to stop digging.

********************************************************************************************************************
Contact your Congress and Senate Representative NOW

Another great post Fibonelli.

It begs to question where did the $700bn go? (fictitious expenditure) :-0

Why is Obama raising another $800bn to spend? (real expenditure) :smart: