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pjani06 (29.10)

HIDDEN within the text of the Bailout - FOREIGN bank bailout - an OUTRAGE for America

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October 01, 2008 – Comments (2) | RELATED TICKERS: BAC , GS , C

Watch this NOW.  Just posted, minutes ago! 

This bailout will send flight our money overseas!! It'll be likely used to purchase numerous financial instruments to bailout foreign investment banks!!!!!

 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 CHINESE!!! NOT AMERICANS.....AND WE WILL NOT ALLOW THIS!

 

http://www.fedupusa.org/

 

2 Comments – Post Your Own

#1) On October 01, 2008 at 2:16 AM, pjani06 (29.10) wrote:

That's right folks.  You are going to have $700 billion - about 25% of the total federal budget - put on your personal credit card (via taxes forever) in order to bail out foreign investors.

Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!

Here is the definition of a "troubled asset", right from the bill:

"(9) TROUBLED ASSETS.—The term ‘‘troubled assets’’ means— (A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability;

and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress."

Notice that conspicuously missing from the definition is the requirement that the asset's underlying thing (that is, the property that was mortgaged, etc) lies within the United States.  Also note that Treasury must tell Congress if they add "new types" of debt, but that Congress has no right of review or censure.

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#2) On October 01, 2008 at 2:21 AM, pjani06 (29.10) wrote:

SPREAD THE WORD!!!!

GET THE KNOWLEDGE OUT!!

for your sakes

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