Bush's $700 billion bailout: Will it work?

It is Not what needed to be done.. Congress is at fault with Frank.. Dud.. Schumaer Obama getting Heavy Cash from Freddy and Fanny from where the Problem of forcing Banks to lend to borrowers without the financial ability to pay back .. Acorn , an Obama trained Neighorhood Bunch of Hoods, Forbed by various tactics to Lend under similar conditions and had been funded by Organizations of which Obama was a director...
Congress is refusing accountability once more and we get Screwed once again but the Congressional Morons cover their Incapable ability to Govern Ethically... Fire the bunch as they try to Cure Cancer with a band aid and an aspirin just for " SHOW' ...Cretins all!!

1-John McCain wrote a letter to the SEC and Pres. Bush in 2005, warning them that Fannie Mae and Freddie Mac and Country Wide were making loans to people that they knew could not afford them.

2-That they were bundling a re-selling the loans to banks with no visibility into the loans stability.

3-CountryWide sold 10,000 loans a day (2.5 million a year, 25 million loans since 1998), to Fannie Mae and Freddie Mac with no checks on borrower income, at 110% the appraised value of the real estate, with two tier loan rates knowing that most borrowers could not affored the second tier.

4-John McCain put all this in a letter in 2005 to the SEC and stated that this practice was endangering the economy and would cause a depression.

5-John McCain asked the Senate to investigate this .

6-Barack Obama and the rest of the Democrats voted against it.

7-Barack Obama recieved over $500,000 in campaign contributions from Fannie Mae and Freddie Mac. The second highest amount in the senate, only topped by Barney Frank the chairman of the banking comittee.

John McCain Understands the Economy.
John McCain called the Fannie Mae and Freddie Mac./ Country Wide Loan scam two years before any one else.
This scam covered up by Barack Obama and the democrats is endangering the whole Economy.

Barack Obama took Bribes from Fannie Mae and Freddie Mac Just like the rest of the Democrats

Barack Obama has the ex Ceo of Fannie Mae on his campain staff.


Tony
Just A Roman Catholic Italian Kid from Brooklyn

I’m against the $85,000,000,000.00 bailout of AIG.

Instead, I’m in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let’s assume there are 200,000,000 bona fide U.S. Citizens 18 .

Our population is about 301,000,000 /- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18 into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18 as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let’s assume a tax rate of 30%. Every individual 18 has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18 has $297,500.00 in their pocket.

A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

**Pay off your mortgage – housing crisis solved.
**Repay college loans – what a great boost to new grads.
**Put away money for college – it’ll be there.
**Save in a bank – create money to loan to entrepreneurs.
**Buy a new car – create jobs
**Invest in the market – capital drives growth
**Pay for your parent’s medical insurance – health care improves
**Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18 including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we’re going to re-distribute wealth let’s really do it... instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by one of our candidates for President. If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18 !

As for AIG – liquidate it.
**Sell off its parts.
**Let American General go back to being American General.
**Sell off the real estate.
**Let the private sector bargain hunters cut it up and clean it up.

Here’s my rationale. We deserve it and AIG doesn’t. Sure it’s a crazy idea that can “never work.” But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom? $297,500.00 in my pocket!

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC***.

And remember… This plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

*** (Oxymoron--geniuses at AIG or in Washington DC)

This is entirely my opinion.

Bob

Democrats try to screw American Tax Payers with Bailout Proposal!

It’s bad enough that Dodd (D) and Obama (D) have taken so much money from Fannie, Freddie and Lehman, but on top of that their Bailout Proposal was filled taxpayers paying for their corrupt special interest groups and liberal pork barrel spending.

The Democrats were trying to steal from hard working Americans!

It’s the Republicans like John McCain who cleaned it up and took all the corruption out of the proposal and put safety loops and pay back to the taxpayers.

Thank you Sr. John McCain and your Republican Friends for looking out for us!!!

Housing 'bailout' contains millions in earmarks for leftist groups
Jim Brown - OneNewsNow –
There's more to the housing bailout measure than meets the eye, says a Minnesota lawmaker. She contends that members of Congress need to be called back to Washington to reverse the measure that, among other things, sends millions of taxpayer dollars to a radical illegal immigration advocacy group.

The housing package signed into law by President Bush extends an unlimited line of credit to troubled mortgage giants Freddie Mac and Fannie Mae and rescues homeowners near or in foreclosure. The measure also increases the federal debt limit by another $800 billion -- and sends millions of dollars in aid to La Raza and the Association of Community Organizations for Reform Now, or ACORN.

Representative Michele Bachmann (R-Minnesota), a member of the House Financial Services Committee, says she finds it "unconscionable" that the legislation included funding for the two groups, which serve as political action arms of the Democratic Party.

"At the same time that the American taxpayer was being asked to bail these companies out, Barney Frank, the chairman of the Financial Services Committee, instituted a sort of tax on Freddie and Fannie, and that tax goes into what's called an affordable housing trust fund," explains Bachmann. "It's a really a taxpayer-subsidized housing fund, but that money will go to organizations like La Raza and...ACORN." Both groups -- "particularly ACORN," says Bachmann -- have been found to be involved in "activities where they have perpetrated voter fraud," she contends.

Bachmann advises Congress to get back to Washington, stop the funding stream for ACORN and La Raza, and also get American taxpayers off the hook for bailing out Fannie Mae and Freddie Mac.

"Of all the bad choices; this (with oversight) might be the best and least expensive in the long run. We'll see, won't we? "

http://www.washingtonwatch.co...

SEC. 122. INCREASE IN STATUTORY LIMIT ON THE PUBLIC DEBT.

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting “$11,315,000,000,000″.

(11.3 trillion dollars!!!)

SEC. 127. COOPERATION WITH THE FBI.

Any Federal financial regulatory agency shall cooperate with the
Federal Bureau of Investigation and other law enforcement agencies
investigating fraud, misrepresentation, and malfeasance with respect
to development, advertising, and sale of financial products.

SEC. 128. ACCELERATION OF EFFECTIVE DATE.

Section 203 of the Financial Services Regulatory Relief Act of 2006
(12 U.S.C. 461 note) is amended by striking "October 1, 2011 and
inserting "October 1, 2008.

(this matches with the combat troops to be deployed inside the US
according to Army Times magazine reported by Democracy Now website)

SEC. 131. EXCHANGE STABILIZATION FUND REIMBURSEMENT.

(b) LIMITS ON USE OF EXCHANGE STABILIZATION FUND.—The Secretary is
prohibited from using the Exchange Stabilization Fund for the
establishment of any future guaranty programs for the United States
money market mutual fund industry.

(small investor mutual funds... not covered ever!)

to get the full understanding of what is being passed you will need
to look up the referenced statutes. This is where the exceptions to
the rules are located and where the "gotcha's" are hidden

This quagmire started long before Bush was born!

In 1912, Woodrow Wilson made a contract with the international bankers that would give them control of our money. In return, they would finance his campaign.

"These Bankers are connected to London Banking Houses, which, ultimately, control the FED. When England lost the Revolutionary War with America, they planned to control us, by controlling our banking system, with the profit, on the printing of our money, and our ever increasing debt."

"On Sunday, December 23, 1913, two days before Christmas, while most of Congress was on vacation, President Woodrow Wilson signed the Federal Reserve Act into law.

Wilson would later express profound regret over his tragic decision, stating:

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world - no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."

http://www.wakeupfromyourslum...