Due to the prophetic pontificatin', perks, pork and persuasion....
House Passes Paulson's Bail Out Plan
Now the question is will it do anything beyond hand over taxpayer money to Wall Street, delay the inevitable, exacerbate the real problems and dump this entire mess on the next administration. Personally I am just horrified how our Congress shoves this down the throat of the American people claiming it's for main street. Such a lie.
This is a must-read New York Times article describing how the panic in the financial system after Lehman's bankruptcy on Monday Sept. 15 spiraled out of control, causing Paulson and Bernanke to go to Congress Thursday Sept. 18 warning that the "economy might not exist" by the next Monday.
Congress Presentative Brad Sherman (CA-27th) is strongly speaking out on the latest version of the Emergency Economic Stabilization Act of 2008 (Bail Out Bill) and in particular exposing how foreign banks, investors will get billions and billions of American taxpayer money.
One must wonder why Congress is hell bent on passing a plan when so many economists are questioning it even working at all and while other more proven approaches are available.
Congressman Peter DeFazio issued a press release showing the the bitterness of these so called sweeteners being dangled before our representatives on Capital Hill:
Bailout legislation protecting domestic deposits in Irish national banks was signed into law by President Mary McAleese at 3:30 PM (Irish time).
President Mary McAleese has this evening signed legislation giving effect to the Government's €420 billion bank guarantee scheme.
A single-line statement from Áras an Uachtaráin just after 3.30pm said Mrs McAleese had signed the Credit Institutions (Financial Support) Bill 2008 into law.
Unlike the US FDIC or the British Financial Services Compensation Scheme, Ireland has had, until today, a deposit insurance scheme to protect only something like the first €20,000 deposited by individuals into banks.
Bailout legislation protecting domestic deposits in Irish national banks was signed into law by President Mary McAleese at 3:30 PM (Irish time).
President Mary McAleese has this evening signed legislation giving effect to the Government's €420 billion bank guarantee scheme.
A single-line statement from Áras an Uachtaráin just after 3.30pm said Mrs McAleese had signed the Credit Institutions (Financial Support) Bill 2008 into law.
Unlike the US FDIC or the British Financial Services Compensation Scheme, Ireland has had, until today, a deposit insurance scheme to protect only something like the first €20,000 deposited by individuals into banks.
Whenever there is a jump in new unemployment claims one has to love the main stream media trying to spin it away. This time it's Hurricanes.
For the week ended Sept. 27, seasonally adjusted first-time claims for unemployment benefits rose 1,000, to stand at 497,000 -- the highest since late September 2001
Let's take a moment to watch some videos on what is really happening on main street. Note, by voice vote the entire Senate turned down Bernie Sander's attempt to get the people who got filthy rich from this disaster....pay for it. Nope. Senators instead turn reality on it's head and claim they are not doing what they indeed are doing...bailing out Wall Street.
This one is about a Southern California Area Called the Inland Empire:
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