So now it's 800 Billion?

[Razmear]

Just waking up after a day of not following whats going on, and see that the improved Senate version of the bill added "100 Billion of sweeteners".
So when I call my reps today, I'll be sure to mention if they are for this new and improved 800 Billion Dollar bailout plan. Maybe if they just bump it up to an even Trillion it would pass unanimously..... Dumbasses.

eb


http://rawstory.com/news/2008/Wall_Street_bailout_passes_Senate_1001.html

[rockjoa]

Don't worry they raised the fdic from 100k to 250k to help out the middle class, that seems like a fair trade.:p

Now I am starting to wish the first on passed:(

[wgadget]

Yep, and the 250,000 is only due to the effects of INFLATION.


And I suppose to honor their new ceiling, the FDIC will need to be bailed out a little FURTHER.

Sheesh.

[JosephTheLibertarian]

The "sweeteners" are to bribe the reps with. Politics 101. The socialists will get what the want, the corporatists will get what they want. This is over.

[Thor]

Actually I saw $110 billion, but what is $10 billion when you are in the 100's of billions.

And it went from 3 pages to over 450 pages of pork filled crap. Like a subsidy for wooden arrow makers to name one (Saw that on the local news last night). Now that it is a typical bill with lots of gimmies in it, it will pass.

[JosephTheLibertarian]

Actually I saw $110 billion, but what is $10 billion when you are in the 100's of billions.

And it went from 3 pages to over 450 pages of pork filled crap. Like a subsidy for wooden arrow makers to name one (Saw that on the local news last night). Now that it is a typical bill with lots of gimmies in it, it will pass.

This is why all states are evil ;) It never works!

[Razmear]

Well 9am, Congressional offices are open, time to make some calls

eb

[undergroundrr]

Now that it is a typical bill with lots of gimmies in it, it will pass.

I think we need to look at it as much more than that. It's a power-grab to give the Secretary of the Treasury dictatorial powers over the economy. The $800B is almost a red herring. I think people need to understand the following passage, particularly provisions 3-5 (1 and 2 just allow him to get some buddies on the payroll).

(c) NECESSARY ACTIONS.—The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation, the following:
(1) The Secretary shall have direct hiring authority with respect to the appointment of employees to administer this Act.
(2) Entering into contracts, including contracts for services authorized by section 3109 of title 5, 12 United States Code.
(3) 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.
(4) In order to provide the Secretary with the flexibility to manage troubled assets in a manner designed to minimize cost to the taxpayers, establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase, hold, and sell troubled assets and issue obligations.
(5) Issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities or purposes of this Act.

It also opens a new Office of Financial Stability, the economic equivalent of the Department of Homeland Security.

Paulson and his political progeny will become the money fuhrers, able to get the war-declaring president money any time he needs it.

[Thor]

I think we need to look at it as much more than that. It's a power-grab to give the Secretary of the Treasury dictatorial powers over the economy. The $800B is almost a red herring. I think people need to understand the following passage, particularly provisions 3-5 (1 and 2 just allow him to get some buddies on the payroll).

(c) NECESSARY ACTIONS.—The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation, the following:
(1) The Secretary shall have direct hiring authority with respect to the appointment of employees to administer this Act.
(2) Entering into contracts, including contracts for services authorized by section 3109 of title 5, 12 United States Code.
(3) 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.
(4) In order to provide the Secretary with the flexibility to manage troubled assets in a manner designed to minimize cost to the taxpayers, establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase, hold, and sell troubled assets and issue obligations.
(5) Issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities or purposes of this Act.

It also opens a new Office of Financial Stability, the economic equivalent of the Department of Homeland Security.

Paulson and his political progeny will become the money fuhrers, able to get the war-declaring president money any time he needs it.

There is no doubt it is the financial version of the patriot act. My point was it will now pass now that all the pork is in it and everyone is getting greased.

It is horrible with all the pork, let alone the teeth of the bill as you show.

It is horrible any way you slice it. Bailing out foreign banks, adding the new henchmen roles, and the pork to make everyone vote for it.

[Carole]

Just waking up after a day of not following whats going on, and see that the improved Senate version of the bill added "100 Billion of sweeteners".
So when I call my reps today, I'll be sure to mention if they are for this new and improved 800 Billion Dollar bailout plan. Maybe if they just bump it up to an even Trillion it would pass unanimously..... Dumbasses.

eb


http://rawstory.com/news/2008/Wall_Street_bailout_passes_Senate_1001.html
Hillarious! :D:D
The bill has not even passed yet and has grown by 14 percent.

[MoneyWhereMyMouthIs2]

I think we need to look at it as much more than that. It's a power-grab to give the Secretary of the Treasury dictatorial powers over the economy. The $800B is almost a red herring. I think people need to understand the following passage, particularly provisions 3-5 (1 and 2 just allow him to get some buddies on the payroll).

(c) NECESSARY ACTIONS.—The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation, the following:
(1) The Secretary shall have direct hiring authority with respect to the appointment of employees to administer this Act.
(2) Entering into contracts, including contracts for services authorized by section 3109 of title 5, 12 United States Code.
(3) 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.
(4) In order to provide the Secretary with the flexibility to manage troubled assets in a manner designed to minimize cost to the taxpayers, establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase, hold, and sell troubled assets and issue obligations.
(5) Issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities or purposes of this Act.

It also opens a new Office of Financial Stability, the economic equivalent of the Department of Homeland Security.

Paulson and his political progeny will become the money fuhrers, able to get the war-declaring president money any time he needs it.

Yep, the feds have been trying to grant themslves all access to financial snooping for quite some time now.