That's so sad. I can't even imagine what might happen in the next few months, if not sooner. Good luck to all of us.

It's a fucking outrage!

And it's high time the American people got a crash course in what money is all about and how ours is not a money system, but a fucking criminal conspiracy on a global scale!

What a load of bullshit!!!

Our so-called Congress is about to hand over $7-800 billion to a bunch of vampires so they can continue to hold us hostage with their filthy fucking "monopoly money."

That's not "restor[ing] liquidity and stability to the financial system" as the draft declares on page 3, that's giving the vampires more amunition with which to bleed us dry and protecting the status quo for just a wee longer because they're not done with us yet!

And get a load of the bill's definition of "troubled assets":

(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.

In other words, ANYTHING under the fucking sun!!!

If ever there was a time to nationalize our the nation's money supply - this is it!

If they can nationalize this loss - then they can nationalize our money supply and cut out these traitorous fucking middle men for good.

___________________________

"Money" has no value - people do.

In other news, I read somewhere that President G.W. Bush threatens to withhold federal funds for the states if the state representatives vote "Nay" on the bill. If true, this is extortion a la the Mob.

The poster at DailyPaul speculates that China, one of the major financiers of America's continuous indebtedness, may step in to take over parts of America to evict the homeowners for mortgage debt China holds. S/he says: "United States is enacting a new law titled the Emergency Economic Stabilization Act of 2008, and which in Section 101, Paragraph 7:3 chillingly states: Designating financial institutions as financial agents of the Federal Government, and such institutions shall perform all such reasonable duties related to this Act as financial agents of the Federal Government as may be required."

"Financial agents" . . . holy shit!

That China story originated on the Sorcha Fall website a few hours ago. Sullivan says that site is run by a David Booth, whom the site claims is dying of a heart attack and stroke.

It actually supports the Bloomberg story about "outside contractors" that released the draft of the "LOOTOUT" bill.

That China story originated on the Sorcha Fall website a few hours ago. Sullivan says that site is run by a David Booth,

I'm only one of many who have come to that conclusion, based on the evidence (or lack of it in some cases).

whom the site claims is dying of a heart attack and stroke.

Where? I didn't see that. It is a strange claim, given the rapidity of death from the former. Heart disease maybe, but not a heart attack.

It actually supports the Bloomberg story about "outside contractors" that released the draft of the "LOOTOUT" bill.

Just enough truth to make it believable mixed with a pack of lies. A classic example of poisoning the well.

The say it here

... "taken him over 30 years to write at such a personal cost that even as these words are being written he remains incapacitated by a recent heart attack and stroke that is bringing his once vibrant life to its Earthly end."

Ooo, look at Kucinich's defiant glare at the end of that speech. I love it.

Wall Street is a place of bears and bulls. It is not smart to force tax-payers to dance with bears, or to follow closely behind the bulls.

Or in other words, force-feed the public bullshit.

Page 9, line 11 of the draft:

(e) PREVENTING UNJUST ENRICHMENT.—In making under the authority of this Act, the Secretary shall take such steps as may be necessary to prevent unjust enrichment of financial institutions participating in a program established under this section, including by preventing the sale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset. This subsection does not apply to troubled assets acquired in a merger or acquisition, or a purchase of assets from a financial institution in conservatorship or receivership, or that has initiated bankruptcy proceedings under title 11, United States Code.

This paves the way for JPMorgan to make another killing off its purchase of WaMu...

Unfuckingbelievable...

and making financial institutions of Paulson's picking "agents of the federal government"??? It's unheard of!

America has descended into pure, unadulterated fascism!

___________________________

"Money" has no value - people do.

Qrswave, Jim Rogers nailed it on the head when he called the Fannie Mae/Freddie Mac bailout "socialism for the rich". Now he condemns the Paulson bailout plan "astonishing, devastating and very harmful for America."

I don't know what the hell is Warren Buffet doing after the deal with Goldman Sachs. I lost respect for him unless he proves the skeptics wrong with his screwd moves that return monster profits.

What Jim Rogers really means (re: 'socialism for the rich') is fascism. But the particular word is so abused George Orwell refer to it as polemic and overused pejorative. (Orwell's short essay "What is Fascism?" Interestingly, his preface "Freedom of the Press" to Animal Farm was suppressed until 1972.)

We can agree to call the U.S. economy system for what it is - Fascism!

Come to think of it, there is an excellent essay "Economic Fascism" originally published 15 years ago. I thought this should be a required reading in Economics course. I highly recommend reading the article - it is amazingly astute.

NO help for the taxpayers by re-writing in danger mortgages.

No way to back out of this act unless a SUPER-MAJORITY of both houses agrees to, which is basically impossible.

250 BILLION up front and another 100 BILLION ASAP.

How long before the initial 700 BILLION is spent and they come back for more?