If the 700 billion dollar bailout fails , what’s next ?

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We are talking dollars versus doghnuts:

The current bills in the Senate and House of Representatives will fund foreign financial investments at the expense of the US Taxpayer.

There is money to be made by purchasing foreign holdings of US generated: Mortgage/Student Loan/Credit Card/Auto Loan, CDO's and submitting it to the US Treasury for compensation.

Without specific language concerning who originated the CDO and when the US Repository came into ownership: the original cost of this socialist program will balloon exponentially.

The Senate should add language fixing the date of aquisition of any taxpayer funded repurchase of mortgage/student loan/credit card/ auto loan derivative financial instrument.

Absent language, we could well end up sworded on the tip of the very institutions that created the current situation.
 
delldude said:
Skip the obvious as usual..... :down:
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Actually dell, I'm not skipping anything. We had a 4 page bailout bill that expanded to 450 pages. The guy in the ad says "This is a lot of paper to say we need clean water". Our government manages to put so many riders and attachments on bills that half the time we have no idea WHAT we are passing. Just look at how the Commodity Futures Modernization Act (Sponsored by the GOP heavies, but Clinton signed it, so it's his fault). It was attached to a government reauthorization bill (funding the government) that was 11,000 pages long just hours before Congress voted on it. There was little to no debate on it.

We supposedly are voting for re-funding the government and while we are at it, we open the doors for a financial meltdown. We should either have a line item veto, or we should change our laws so that it's ONE bill...with no riders...that is being voted on. Because I can assure you, that had Clinton vetoed the government reauthorization bill way back when, because of the Commodity Futures Modernization Act, the GOP would have wasted no time in accusing him of trying to "shut down the government".

Here, we are voting to bailout the guys on Wall Street who might have to trade down from a Maybach to a mere Mercedes, and we are voting on such vital things as wooden arrow tax breaks.
 
Ok KC...

Gosh....I started reading this bill that the democrats in a GOP controlled Congress prevented from being enacted.
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I still think your perception is off mark here.It looks like too many GOP had a very bad taste in their mouths and still may.Bush's own party again goes against his wishes.GOP doesn't want a bailout so how could the Dems,in the face of adversity,come together to stop the GOP when the GOP out voted them?
From here it looks like the GOP did more back in 2004 to prevent this and the Dem's played the fiddle while Rome burned.
I suppose those video's from youtube are pure BS.
 
JS said:
There won't be mass homelessness because most people, thank goodness, aren't stupid enough to buy a house they can't afford.
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Woooh! Good to know ! Thank goodness only a few tens of MILLIONS of American’s bought homes they couldn’t afford … it’s also good to know that only a very very very small percentages of banks invested in the mortgage business , only the stupid people who have their savings in the stupid banks will pay the price for that one! Ha ha , jokes on them ! … it’s also good to know that only a few people will be affected by the GAS prices , ha ha stupid people for buying fuel inefficient cars! And boy am I glad to know that no matter what happens it’s only the stupid people who have little or no savings in this country who will pay the price for their stupidity in not saving ….. Unless of course that happened to be the MAJORITY of the US population ….. :eek:


Do you understand DOMNIO theory ? If you don’t your about to watch it play out … and we’re all going down …
 
freedom said:
Woooh! Good to know ! Thank goodness only a few tens of MILLIONS of American’s bought homes they couldn’t afford … it’s also good to know that only a very very very small percentages of banks invested in the mortgage business , only the stupid people who have their savings in the stupid banks will pay the price for that one! Ha ha , jokes on them ! … it’s also good to know that only a few people will be affected by the GAS prices , ha ha stupid people for buying fuel inefficient cars! And boy am I glad to know that no matter what happens it’s only the stupid people who have little or no savings in this country who will pay the price for their stupidity in not saving ….. Unless of course that happened to be the MAJORITY of the US population ….. :eek:


Do you understand DOMNIO theory ? If you don’t your about to watch it play out … and we’re all going down …
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I bet you’re the fun of the party with that shinning disposition and easy going and positive outlook.

God grant you peace that only he can give, otherwise you are heading for a bigger meltdown that what you fear.

The world is run and this country in particular by Godless greedy people.

If you think I am crazy look into what the black budget is where trillions ands trillions have evaporated with zero accountability. The funny part, the very people trying to save us are the very people, the cause!


This is a mess beyond belief and yes it could go extremely bad for millions of families where the children will never forget.

This is an evil world we live in and to believe otherwise thinking these men are looking out for us is the logic of the lost, the fools who praise them.


God’s still in charge and no matter what happens each individual will experience a completely different experience depending squarely on their personal relationship with the one and only God of this universe.

Personally, I say whatever God does, Praise the Lord, it's all that matters, not all this worry and fretting.
 
700 IAM , i know what you mean about my shinning outlook .... but someone has to be the bearer of the bad news ... i don't run around on the street corner screaming the economy is ending at the top of my voice , but when i find rational sane people , i do bring it up in a calm manner ....

Right now i've taken to smoking , and i'm going to be drinking alot more ...

God helps those who help themselves .... we must help ourselves , we cannot turn a blind eye to what's comming ,and your right about our leaders , their pretty much worthless ....

We must consider a radical PLAN B for this nation in order to keep going , and when i say radical , i mean radical .
 
freedom said:
700 IAM , i know what you mean about my shinning outlook .... but someone has to be the bearer of the bad news ... i don't run around on the street corner screaming the economy is ending at the top of my voice , but when i find rational sane people , i do bring it up in a calm manner ....

Right now i've taken to smoking , and i'm going to be drinking alot more ...

God helps those who help themselves .... we must help ourselves , we cannot turn a blind eye to what's comming ,and your right about our leaders , their pretty much worthless ....

We must consider a radical PLAN B for this nation in order to keep going , and when i say radical , i mean radical .
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When are you turning in your SIDA badge?
 
freedom said:
We must consider a radical PLAN B for this nation in order to keep going , and when i say radical , i mean radical .
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TITLE 18 > PART I > CHAPTER 115 >§ 2385. Advocating overthrow of Government

Whoever knowingly or willfully advocates, abets, advises, or teaches the duty, necessity, desirability, or propriety of overthrowing or destroying the government of the United States or the government of any State, Territory, District or Possession thereof, or the government of any political subdivision therein, by force or violence, or by the assassination of any officer of any such government; or
Whoever, with intent to cause the overthrow or destruction of any such government, prints, publishes, edits, issues, circulates, sells, distributes, or publicly displays any written or printed matter advocating, advising, or teaching the duty, necessity, desirability, or propriety of overthrowing or destroying any government in the United States by force or violence, or attempts to do so; or
Whoever organizes or helps or attempts to organize any society, group, or assembly of persons who teach, advocate, or encourage the overthrow or destruction of any such government by force or violence; or becomes or is a member of, or affiliates with, any such society, group, or assembly of persons, knowing the purposes thereof—
Shall be fined under this title or imprisoned not more than twenty years, or both, and shall be ineligible for employment by the United States or any department or agency thereof, for the five years next following his conviction.
If two or more persons conspire to commit any offense named in this section, each shall be fined under this title or imprisoned not more than twenty years, or both, and shall be ineligible for employment by the United States or any department or agency thereof, for the five years next following his conviction.
As used in this section, the terms “organizesâ€￾ and “organizeâ€￾, with respect to any society, group, or assembly of persons, include the recruiting of new members, the forming of new units, and the regrouping or expansion of existing clubs, classes, and other units of such society, group, or assembly of persons.
 
freedom said:
700 billion dollar bailout fails , what’s next ?



Let’s say the 700 billion dollar bailout fails and the credit markets remain sub artic , what steps do we then take to save the economy ? If you believe the economy can be saved at all ….


Or For those of you like myself who feel the economy is finished completely , I’d like to hear your views on what we should do to keep our nation running in the event of total economic collapse , I have my own personal views which I will share after I’ve finished refining them .
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This is what is next....The Mother Of All Bank Runs?
Nouriel Roubini 10.02.08, 12:01 AM ET

http://www.forbes.com/home/2008/10/01/gold...002roubini.html
 
"Thus, the gambit of converting into banks while not being banks yet hasn't worked, and the run against them has accelerated in the last week: Morgan's CDS spread went through the roof on Friday to over 1200, and the firm has already lost over a third of its hedge-fund clients together with the highly profitable prime brokering business (this is really a kiss of death for Morgan). And the coming roll-off of the interbank lines to Morgan would seal its collapse. Even Goldman Sachs is under severe stress: Most of its lines of business (including trading) are now losing money."

Sweet music to my ears! :up: :lol:
 
delldude said:
TITLE 18 > PART I > CHAPTER 115 >§ 2385. Advocating overthrow of Government

Whoever knowingly or willfully advocates, abets, advises, or teaches the duty, necessity, desirability, or propriety of overthrowing or destroying the government of the United States or the government of any State, Territory, District or Possession thereof, or the government of any political subdivision therein, by force or violence, or by the assassination of any officer of any such government; or

If two or more persons conspire to commit any offense named in this section, each shall be fined under this title or imprisoned not more than twenty years, or both, and shall be ineligible for employment by the United States or any department or agency thereof, for the five years next following his conviction.
As used in this section, the terms “organizesâ€￾ and “organizeâ€￾, with respect to any society, group, or assembly of persons, include the recruiting of new members, the forming of new units, and the regrouping or expansion of existing clubs, classes, and other units of such society, group, or assembly of persons.
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my loyalty lies with the PEOPLE of the united states , our laws , and our culture , however i have no loyalty to the "econmic " system that we use .... we could swtich over to commusim tomorrow and we'd still be the UNITED STATES OF AMERICA , as long as we have our civil rights , our freedom of speech , our friends and our familes , that's what makes us who we are ....

the era of this economy is coming to an end , but our nation need not ....

we're about to transition from one stage of history to the next , much like the dark ages or the industrial revolution ..
 
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