"NO" to bailout ?.....see Fedupusa.org...bailing out foreign banks!

[snappyturtle]

I am so weary from the lack of news on teevee I could scream: Now this:


www.fedupusa.org
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YOU ARE GOING TO GET FLEECED FOR HUNDREDS OF BILLIONS OF DOLLARS IF THIS BILL PASSES - THAT MONEY IS GOING TO GO IMMEDIATELY OUT OF THE COUNTRY!


From the Senate version of bailout bill-->

"SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS.

The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 101.

more at: www.fedupusa.org

Please also watch video (thanks so vmaus!)at: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x203580


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I'm well aware that banking is global but where does all this 'bailout' end? The Fed put >$600 into the market last Monday I think it was....I couldn't even get through by phone to my Senators' offices this morning,,,,all busy. I have e-mailed them. I read about the energy incentives, mental health issues, and alternative minimum tax relief being in this re-vised version of HR 3997, but THIS...bailing out of foreign banks and investment firms. I say enough is enough.

[Subdivisions]

1. I have been watching the folks at this site warn about this shit for

over a year. And yet some will see what they are saying a tinfoil hat malarkey.

From what I've seen, they were right about this all along. That is why I'm putting my trust in them, though I'm not totally opposed until there is more info from more sources. But, for now, these guys have been spot on all the way along.

Edited to add link to my thread on this Sec. 112:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4143038

[snappyturtle]

4. Am so sorry I missed your OP....good Lord seems like at live at DU

and still..............your link was interesting and goes right along with mine. I think that any of these banks, investment firms whatever,wherever, that bought bad paper, however disguised, are at fault. There I said it! They all did it to put money in their pockets and pass it on 'til they choked the hell out of the liquidity. Greed, pure and simple. Should I ever live long enough to be able to sample it myself and even then it would run against my nature but obviously not theirs, they were all in sync. Here we are having to debate over a bill to help out and they did these exotic maneuvers not caring who or what they hurt. I suppose in the end we'll be paying it off for the rest of our lives but, I for one, will never forget this.

[Subdivisions]

5. It's a Ponzi Scheme. Multi-billion dollar bonuses for the ones at

the top. Now that the pyramid is collapsing, as it always does, we taxpayers are going to be the ones to bailout the base of the pyramid. And I'm standing outside the pyramid looking at the thing, no part of it!

[snappyturtle]

7. It's just surreal....isn't it? Bad dream....nightmare and no one is listening!

Have you ever had a bad dream and yell for help and no sound comes from your throat? That's the innate fear I feel about this.

[PDJane]

2. I'm going to point out that

The lack of regulation means that the American liquidity crisis is going to hit everyone. You caused it, you fix it........and while you're at it, I suggest that the system needs a complete overhaul.

[Subdivisions]

3. THANK YOU! RESET! NO BAILOUT!

Sorry, let the chips fall where they may because if the bailout passes it's just going to be worse and we'll have been ripped-off $700 billion in the process.

Vote this down with calls to your reps NOW! At least we'll still have the $700 billion! Then, we should DEMAND that amount to rescue victimized homeowners who are losing their homes in droves.

[snappyturtle]

6. I couldn't agree more! An hour or so ago I turned on CNN and some

young woman host was just blabbering on and on about this bill and that it would be voted on tonight and the CNN would continue to bring complete coverage but added that if you want the details to check CNN.com! Well, I looked at ol' CNN.com early this morning and these changes in this Senate version concerning foreign bailout were not even mentioned! It's all very cagey in my book.

Our local paper ran an article on the front page yesterday that the banks are lending here. There's even a new bank courting business. My daughter's SO writes mortgages for Wells Fargo in MN for corporate transfers and he is STILL doing on average 40 a month! There are many in his office doing the same....and these are nationwide mortgages,standard mortgages. I re-checked with my daughter this morning and she said it's still business as normal for him.

And, yes, victimized homeowners need help....THAT helps us all. I listened to Kucinich last night on Rachel Maddow's show and his plan seems so reasonable! WHY,oh why isn't the financial sector cleaning up it's own mess?

[lib2DaBone]

8. Agree.... No Banker left Behind..No Bailout for CHINA

This bill will allow Paulson to buy back bad paper from CHINA. (they forgot to mention this..just slipped their mind) Poor.. Poor.... China.. 5 million American Jobs over there and they want us to buy back this bad paper. No WAY!!

http://www.cnn.com/video/#/video/bestoftv/2008/09/30/ldt.kaptur.defazio.intv.cnn?iref=videosearch