Wall Street Bailout

[sarah]

If any of you are the least bit queasy - don't turn on C-Span to see Chris Dodd and our other lovely friends in Washington lie to our faces about this ridiculous bailout!

We still have time to WRITE OUR REPRESENTATIVES! I've been writing twice a day all week

Now they're saying we have until tomorrow before the House votes, and possibly Tuesday for the Senate.

[blkTJ]

cross posted... thanks sarah.

[RAT]

Letters sent. Sniff sniff... I smell socialism...

[Roger]

I wrote Congressman Jerry Lewis. This stinks. You know, when Wacovia failed the other day, it was snached up by another bank within minutes for pennies on the dollar! Let the market work itself out without padding the pockets of the Wall Street fat cats. So let some of them go bankrupt. Like they would give $h!t if you or I went under....

[inVERt'D]

So let some of them go bankrupt. Like they would give $h!t if you or I went under....

My sentiments exactly. This is the same scam they played in 1933 when they turned our whole country and government upside down in the name of a "Banking Emergency." Since then the American People with all their labor and assets have been pledged to back the money. What's going to happen is the Bank is going to bankrupt the US. Aww don't get me started!

[sarah]

Cross post? Hmm, I guess I missed it. *sorry*

You can watch the debate live at http://www.cnn.com/ , it's apparently still going. Or you can catch it on C-Span. We watched for a few hours yesterday and it's clear that we're being represented by a bunch of liars! You have to see it for yourselves!!

My favorite part is they keep saying that we haven't "regulated" the market. What the hell do they consider the federal interest rate set by the Federal Reserve then!?

[Kodiak Spirit]

debates over, we are screwed. welcome to the USSA... I tell you if we did what these bastards did we would be in jail. I can't believe it! why do I have to be accountable and they don't? This is why people run up a buch af credit cards and then BK... oh wait they don't let that happen anymore...

[blkTJ]

by "cross posted" I meant I posted the link on that other site so all my bleeding heart liberal co-workers could send emails.

I will be watching this vote closely and basing my future congressional picks on it. Not much I know, but it's all we got...

[sarah]

It looks like they're just voting on an amendment?

[RAT]

House votes NO and stocks take a dive. Run chicken little, run....

I agree Sarah, a bunch of freaking liars! I only saw a few minutes of the debate, but I still have a headache. I've been reading tons of posts about expatriating to China. If I wasn't so proud to be an American I'd join them. Running ain't gonna fix it.

[Roger]

Nancy Polosi has a dozen or so Democrats in her office brow beating them to change their vote. I hope they stand strong.

They'll change they're vote if they don't want to get re-elected!

[sarah]

Woooooo!! Our voice was heard! The public is finally waking up! Stay awake my dear friends, we can do it!

[Kodiak Spirit]

thank god I posted too soon! some Republicans were quoted as to saying something about losing some freedoms or something? I'ts almost like they are waking up a little.

[inVERt'D]

One of my favorites:

Samuel Adams
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom ... go home from us in peace. We ask not your counsels nor arms. May your chains set lightly upon you and may posterity forget that ye were our countrymen."

[inVERt'D]

thank god I posted too soon! some Republicans were quoted as to saying something about losing some freedoms or something? I'ts almost like they are waking up a little.

Ok, you got me started...

What many people don't understand is that as gradual as the erosion of our liberties may seem, the legal foundations are actually broken up with some rather quick blows. Since 1933 the Federal Reserve has had, in effect, a lien against (potentially) everything in this country. Through The Emergency Banking Relief Act of March 9, 1933, Congress, in the name of "national emergency," in effect claimed "war powers" (as FDR liked to call it) over the American people and their property. Through this claim, Congress was able to provide security to back the "new money," which the FRB fronts to the U.S. on credit. We are, essentially, involuntary co-signers for Congress.

What does this mean for our freedoms? For example, the Supreme Court recently ruled that the government can take your land in the name of emminent domain for virtually any reason--and many cities have been doing that to create higher tax revenues, etc. Even if you "own" your land "free and clear," the state is Holder in Due course, which means that it has final ownership--you have limited rights of usership. Another example: before the New Deal, driving your car was a right--now it's a privilege that can be revoked for non-related reasons (eg.: child support). Why is this? Because the state has perfected a security interest in your vehicle, making it the holder in due course. You are required to surrender your original bill of sale and/or manufacturer's certificate of origin in order to register your vehicle, because the state needs them to "perfect" its security interest.

Of course, we're never told any of this, and courts usually hide it from us in legal terminology like "public policy," but it's all there, in the records of Congress, in the laws, and court decisions. For anyone who thinks that the erosion of our liberties has just been a random degradation, it can be an eye-opening study, to say the least.

I see this "bailout" like I see the "War on Terror:" an excuse for the power-hungry elitists to grab a little more. If Congress bails out the banks, the money will be fronted by the FRB, who will negotiate the terms....

Excuse my long post.