Random Thoughts From The News About The Bail Out

September 30, 2008

ABC News

ABC News’ Tahman Bradley and Arnab Datta Report: Former House Speaker Newt Gingrich, R-Ga., on Sunday described Treasury Secretary Henry Paulson’s request for billions of dollars to buy debt from struggling Wall Street financial firms as “un-American” and said the secretary should have stepped down.

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CNN Money

Stocks skidded Monday, with the Dow slumping nearly 778 points, in the biggest single-day point loss ever, after the House rejected the government’s $700 billion bank bailout plan.

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Bloomberg

“You let essentially Lehman Brothers go bankrupt but you save AIG and you save other brokers by merging them with banks and then you come with a bailout plan that should be paid by the taxpayer, when Wall Street last year in total received a compensation of $69 billion – $38-39 billion of which were bonuses paid to the executives essentially of Wall Street.”

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Daily Newscaster

“I have been thrown out of more meetings in this capital in the last 24 hours than I ever thought possible, as a duly elected representative of 825,000 citizens of north Texas.” Said Congressman Burgess.

Burgess asks the Speaker of the House to post the bailout bill on the internet for at least 24 hours instead of passing the largest piece of legislation in US financial history in the “dark of night.”

The most frightening part of Rep. Burgess’ one-minute floor speech is when he says, “Mr. Speaker I understand we are under Martial Law as declared by the speaker last night.”

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Life After The Oil Crash

Last week, according to Reuters, “U.S. banks borrowed a record amount from the Federal Reserve nearly $188 billion a day on average, showing the central bank went to extremes to keep the banking system afloat amid the biggest financial crisis since the Great Depression.”

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Guardian

A shattering moment in America’s fall from power

The global financial crisis will see the US falter in the same way the Soviet Union did when the Berlin Wall came down. The era of American dominance is over


Ron Paul: Wall Street Crisis is Corporatism

September 30, 2008

Paulson & Bernanke, Creating The New World Order

September 23, 2008

Isn’t it convenient that Treasury Secretary Henry Paulson is the former CEO of Goldmans Sachs Group. Which along with Morgan Stanley, are set to benefit the most from the $700 Billion “Bail Out“.

not to Mention the recent acceptance of Morgan Stanley and Goldman as commercial bank subsidiaries, that are now set up to receive deposits, and gives them the same access as other commercial banks to the Fed’s emergency loan program.

But Robert J. Ellis, a senior vice president at Celent, a financial-services research firm, said he wouldn’t be surprised if the firms each struck a deal “within weeks” to merge with a bank, in an effort to quickly build their deposit base.

Ron Paul has criticized the government for their bail out plan, and lays out a brilliant summary of what has gotten us into this mess here. We don’t need more government intervention, it will only lead to greater instability and push us closer to the edge.

Chris Dodd, of course doesn’t mind if the government passes the bail out, as long as government has control over the companies they bail out. The Government already took control of Fannie and Freddy earlier this month.

The New York Times even calls this bail out the “financial equivalent of the Patriot Act.” It is nothing more then a power grab. This whole financial melt down has been planned and executed to perfection. There have been dozens if not hundreds of financial experts in the last decade that have warned us of this. It is a huge shift of power to the executive branch.

Adam Davidson of NPR blogs about the so-called bailout bill as follows:

I would guess that this has to be one of the biggest peacetime transfers of power from Congress to the Administration in history. (Anyone know?). Certainly one of the most concise.

The Wall Street Journal, in an article titled “The New World Order: More Banks Will Need Capital Infusions”says

that the government acted to save investment banks that were so interconnected with other banks that their failures would have endangered the system, and the way the new system is shaking out, banks will be more interconnected with their financial partners than ever.

There is alternative plans though,Rep. Dennis Kucinich (D-OH) outlined a proposal he said would create
“a genuine ownership society,”

By giving taxpayers a stake in the companies the government will be saving with its proposed $700 billion package. Kucinich wants to set up the “United States Mutual Trust Fund” to convert assets purchased by the government into shares that would be distributed to every man, woman and child in the country. Every American would receive about $2,300 worth of shares because that is the cost of the bailout package to each individual. Of course this plan is not being talked about.

So the Bail out, if it was passed right now, would give Ben Bernanke, the head of the federal reserve. Which does NOT work for the United States government. They are a private business that is in the profits industry. Along with Henry Paulson the complete control over who gets the $700 Billion, and what they buy with it. They could easily use the money to buy as much gold as they can to try and stabilize the markets. Of course that sounds like a good thing, but then you realize, we “The Tax Payers”, are paying for the federal reserve to buy real gold.

So they get the real assets, and we get the bill!

This sounds a lot like the Untied States taking a big leap into Fascism. I know when people hear that word they automatically think or Nazi Germany, and denounce that anything like that could happen here. But a simple definition for Fascism is simply when the decision of the government are made to accommodate the best interest of corporations instead of the people.

Fascism

A system of government marked by centralization of authority under a dictator, stringent socioeconomic controls, suppression of the opposition through terror and censorship, and typically a policy of belligerent nationalism and racism.

Whats nerve racking is the amount of main stream news, The Wall Street Journal, The BBC, even China,that is calling this crisis the creation of the New World Order.

Don’t forget their motto, “Order out of Chaos”


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