How They Are Framing Bailout

[InterestedParticipant]

Look how Huffington Post is trying to frame this debate.

Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter (http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html)

In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives

Of course we have a major problem with giving total non-reviewable power to the Treasury Secretary, but it is also NOT okay for Main Street to give $1 Trillion dollars to Wall Street, just don't give Secretary Paulsen total discretion over the funds.

They are attempting to isolate the debate simply to the clause on oversight and power, and basically saying we HAVE TO DO THIS. BS!!!

This is not a bail out of home owners and the man on the street, this is a bail out of Wall Street power brokers and foreign debt holders. Just say NO to the entire bailout.

Let them suffer the consequences of their own bad business practices and go out of business.

[HOLLYWOOD]

It get's WORST... Devil in the Details Unbelievable!

That POS Senator Christopher Dodd (D-CT) Nancy Pelosi D-CA...

http://news.yahoo.com/s/ap/20080922/ap_on_bi_ge/financial_meltdown (http://news.yahoo.com/s/ap/20080922/ap_on_bi_ge/financial_meltdown)

Here's the kicker:

The proposal by Sen. Chris Dodd, D-Conn., the Banking Committee chairman, gives the government broad power to buy up virtually any kind of bad asset — including credit card debt or car loans — from any financial institution in the U.S. or abroad in order to stabilize markets.

Congressional aides said the House could act on a bailout bill as early as Wednesday. President Bush earlier Monday issued a statement saying "the whole world is watching" how the U.S. government moves on the legislation that has come in response to business turmoil that has roiled markets at home and abroad.

"Obviously, there will be differences over some details, and we will have to work through them. That is an understandable part of the policy making process," Bush said.

But he also said "it would not be understandable if members of Congress sought to use this emergency legislation to pass unrelated provisions, or to insist on provisions that would undermine the effectiveness of the plan."

The proposal that Dodd has sent to Treasury Secretary Henry Paulson would let judges modify the mortgages of homeowners in bankruptcy to allow them to keep their homes.

It also would require that the government come up with "a systematic approach for preventing foreclosure" on the mortgages it acquires as part of the bailout. That would include the home loans held by Fannie Mae and Freddie Mac, the troubled mortgage giants now under the control of a government regulator.

Asked about Democrats' demands, Treasury spokeswoman Brookly McLaughlin said, "There are lots of issues but the discussions we are having are good."

Asked if the negotiations could slow down passage of the measure, she said, "We are confident that we can get a bill done this week."

[Lord Xar]

Will Ron Paul get to address congress before they try to vote on this thing?

[CapitalistRadical]

I hope you're all contacting your congresspeople. Here at No Bailouts (http://nobailouts.ning.com/), we're organizing resistance to this disgusting plan.

[InterestedParticipant]

It get's WORST... The proposal by [B][COLOR="Red"]Sen. Chris Dodd, D-Conn., the Banking Committee chairman, gives the government broad power to buy up virtually any kind of bad asset — including credit card debt or car loans — from any financial institution in the U.S. or abroad in order to stabilize markets.

Did they give an address where I can send my credit card bills to? I'll just inflate the bills by 30% and give the excess back to the politicians as a kickback. That's how the big boys do it, isn't it?