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LewRockwell.com Blog: Ron Paul: The Federal Burglars Are Stealing Your Prosperity, Again

Ron Paul video speaking on the recent bill to bail out Fannie Mae and Freddie Mac by allowing the Fed to exchange Treasury Bonds for mortgage loan securities.

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- July 24, 2008
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- - Ron Paul: The Federal Burglars Are Stealing Your Prosperity, Again
  - Posted by Lew Rockwell at July 24, 2008 09:24 AM
  - Oh, and this monstrous "law" includes further crackdowns on our privacy for the tax police.
  - This time to reward the fascist Fannie and Freddie, other corrupt agencies, the banks, and politically connected borrowers.
  - Just another day in the district of parasites.
Famous Freemasons Exposed

On the "Scribd" website

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- Famous Freemasons Exposed
History of the Bush Family | WIDE EYE CINEMA - Free Truth Videos

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prescott-bush grand-father george-bush nazi-germany union-bank brown-brothers-harriman fritz-thyssen i-g-farben hitler world-war usa new-york bank shareholder bush-family on 2008-08-26
- History of the Bush Family
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- - The documents, many of which were declassified only three years ago, show that even after America had entered the war and when there was already significant information about the Nazis’ plans and policies, Prescott Bush worked for and profited from companies closely involved with the very German businesses that hoisted Hitler to power.
  - While there is no suggestion that Prescott Bush was sympathetic to the Nazi cause (nor is there any proof to the contrary), the documents reveal that the firm he worked for, Brown Brothers Harriman acted as a U.S. base for Fritz Thyssen, the German industrialist who financed Hitler in the 1930s.
  - Evidence shows Bush was the director of the New York-based Union Banking Corp. that represented Thyssen’s U.S. interests and he continued to work for the bank well after America entered the war.
  - Bush was also on the board of at least 1 of the companies that formed part of a multinational network of front companies to allow Thyssen to move assets around the world.
  - Papers also show, Prescott Bush was a director and shareholder of a number of companies involved with Thyssen, Germany’s most powerful industrial family, and with I.G. Farben, which was prosecuted for war crimes, and is best known as the producer of Zyklon B, a lethal poison widely used at the Auschwitz and Majdanek death camps.
Secrets of the Federal Reserve | WIDE EYE CINEMA - Free Truth Videos

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federal-reserve bank us-government money-supply international-bankers gangsters usa tax-payers america the-fed printed-money centralized private congress on 2008-08-26
- Secrets of the Federal Reserve
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- - This is an excellent video covering the secrets of the Federal Reserve system, how it was formed, and how this private firm controls our everyday lives.
  - In accordance with Title 17 U.S.C. Section 107, this video is distributed without profit, to those who have expressed interest, for research or educational purposes.
Illuminati Conspiracy Archive: Operation Sarkozy: how the CIA placed one of its agents at the presidency of the French Republic

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sarkozy france degaulle politics nwo drugs ben-laden bush-family us-government mi6 cia frank-wisener negroponte aifac neocons standford-university london brzezinski on 2008-09-07
- They were hoping for a break with years of no-change and ideologies of the past. What they got instead was a break with the very principles which founded the French nation, and have been shocked by this “hyper-president”, seizing every day a new dossier, attracting towards him the right and the left wing, and tearing apart all points of reference to the point of creating a total confusion.
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- Later, when the “godfather” was liberated and chose to exile in Italy, they operated through his Corsican “Ambassador”, Étienne Léandri.
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- - In 1958, worried about a possible victory of the FLN in Algeria which could open the way to Soviet influence in Northern Africa, the United States decided to provoke a military coup d’Etat in France.
  - The operation was jointly organized by the Cia’s Direction of Planning – theoretically lead by Frank Wisner, Sr. – and by NATO.
  - But Wisner had already become senile by that time and it was his successor, Allan Dulles, who supervised the coup.
    
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  - Out of Algeria, French generals organized a Public Salvation Committee which pressured the Parisian civilian authorities to vote full powers to General de Gaulle without having had to use force.
  - In a first phase, he attempted to deal with the colonial contradiction by granting to the overseas territories a large autonomy within the French Union.
  - Yet, Charles de Gaulle was not the pawn the Anglo-Saxons had believed they could manipulate.
  - But it was already too late to save the French empire; the colonized people didn’t believe any longer in the promises of the Metropolitan France and demanded their independence. After victorious but fierce repression against those fighting for independence, de Gaulle decided to face reality, and in a rare show of political wisdom, he granted independence to each colony.
  - This turn about was perceived by most of those who brought him to power as a betrayal.
  - The CIA and NATO supported then all kinds of plots to eliminate him, among which a missed coup and some 40 attempts to murder him.
  - However, certain of his followers approved of his political evolution. Around Charles Pasqua, they created the SAC (Civic action services), a militia to protect him.
    
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  - Pasqua was both a Corsican bandit and a former resistant. He married the daughter of a Canadian bootlegger who made fortune during the prohibition and he directed the Ricard company who, after commercialising absinthe, a forbidden alcohol, won respectability by converting to the sales of another alcohol based on liquorice (anisette).
  - The company continued however to serve as a cover for all sorts of traffics connected to the New York Italian American family of the Genovese (and) that of Lucky Luciano.
    
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  - It is therefore not surprising that Pasqua called on Étienne Léandri (Ambassador of Luciano) to recruit the hands that constituted the Gaullist militia. A third man played an important role in the formation of the SAC, the former body guard of de Gaulle, Achille Peretti, also a Corsican.
  - Even though asserting his belonging to the Atlantic camp, he questions the Anglo-Saxon leadership. He opposes the entry of the United Kingdom into the European common market (1961 and 1967); refuses the deployment of UN helmets into Congo (1961); encourages the Latin American states to become free of US imperialism (speech of Mexico, 1964); kicks NATO out France and withdraws from the Atlantic Alliance’s integrated command (1966); he condemns Israeli expansionism during the Six Day war (1967); supports independence of Quebec (Speech of Montreal 1967), etc.
  - Thus protected, de Gaulle designs an audacious national independence policy.
  - Simultaneously, de Gaulle consolidated the power of France by endowing it with a military industrial-complex including a nuclear deterrent and guarantying its energy provisions.
  - He conveniently distanced the encumbering Corsicans of his entourage by entrusting them with foreign missions. Thus, Étienne Léandri became a leader of the ELF group (today Total), while Charles Pasqua the trusted man of the Francophone heads of State in Africa.
  - Conscious that he could not defy the Anglo-Saxons on all fronts at the same time, De Gaulle allied himself to the Rothschild family, choosing as Prime Minister, Georges Pompidou, who was the fondé de pouvoir of the bank.
    
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  - The two men constituted an efficient tandem, the political audacity of the first never losing sight of the economic realism of the second.
  - When De Gaulle resigned in 1969, Georges Pompidou succeeded him briefly at the Presidency before being taken out by a cancer. The historical Gaullists did not admit his leadership, however, and worried about his anglophile proclivities.
  - They howled treason when Pompidou, supported by the General Secretary of the Élysée, Edouard Balladur, had “perfidious Albion” join the European Common Market.
  - The making of Nicolas Sarkozy
  - That decorum having been put into place, we can now return to our main character, Nicolas Sarkozy.
  - Born in 1955 he is son to a Hungarian catholic nobleman, Pal Sarkösy of Nagy-Bosca, who sought refuge in France after fleeing the Red Army, and to Andree Mallah, a Jewish commoner from Thessalonica.
    
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  - After having three children (Guillaume, Nicolas and François), the couple divorced. Pal Sarkösy of Nagy-Bocsa remarried with an aristocrat, Christine de Ganay, with whom he had two children (Pierre Olivier and Caroline).
  - Nicolas will not be raised by his own parents alone, but will go back and forth within this recomposed family.
  - His mother became the secretary of De Gaulle’s bodyguard, Achille Peretti. The latter, after founding the SAC, pursued a brilliant political career. He was elected Deputy and Mayor of Neuilly sur Seine, the richest residential suburb of the capital, and later President of the National Assembly.
  - Unfortunately, in 1972, Achille Peretti comes under grave accusations. In the United States, Time Magazine reveals the existence of a secret criminal organization « the Corsican Union » which controls a large part of the drug trade between Europe and America, the famous « French connection » which Hollywood popularized on the large screen.
    
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  - Based on parliamentary auditions and on his own investigations, Time names the name of a mafia boss, Jean Venturi, arrested a few years earlier in Canada, who is none other than Charles Pasqua’s commercial delegate at the liquor society Ricard.
  - The names of several families headed by the “Corsican Union” are cited, among which that of the Peretti. Achille denies, but is forced to renounce to the presidency of the National Assembly, and barely escapes a “suicide”…
  - In 1977, Pal Sarkösy of Nagy-Bocsa separates from his second wise, Christine de Ganay, who then gets together with the N°2 of the US State Department central administration. She marries him and settles in America with him. The world being very small, as everyone knows, her husband is none other than Frank Wisner, Jr, son of the previous.
    
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  - Nicolas, who remains close to his mother in law, his half brother and his half sister, begins to turn towards the United States where he “benefits” from training programs of the State Department.
  - Junior’s responsibilities at the CIA are unknown, but it is clear that he plays an important role.
  - During that same period, Nicolas Sarkozy adheres to the Gaullist party coming into frequent contact with Charles Pasqua, who was not only a national leader then, but also the head of the party’s Haut de Seine department section.
  - Having finished Law School in 1982 and joined the Barr association, Nicolas Sarkozy married the niece of Achille Peretti. His best man was Charles Pasqua.
  - As a lawyer, Sarkozy defended the interests of his mentors Corsican friends. He bought a property on the Island of Beauty, in Vico, and went as far as envisaging to make his name more “Corsican” by replacing the “y” by an “i”: Sarkozi.
  - The next year, he was elected Mayor of Neuilly sur Seine in replacement of his uncle in law, Achille Peretti, thundered by a heart attack.
  - However, it was not long before Nicolas Sarkozy betrayed his wife, and since 1984, he had a secret liaison with Cecilia, the wife of the most famous entertainer of French television at that time, Jacques Martin, whom he had met while celebrating their marriage, a function he exerted being mayor of Neuilly.
  - That double life lasted five years, before the lovers decided to quit their respective couples in order to build a new home.
  - In 1992, Nicolas was best man in the marriage of Jacques Chirac’s daughter, Claude, with an editorialist of Le Figaro.
  - He couldn’t refrain himself from seducing Claude and having a short liaison with her, while officially living with Cecilia.
  - The cuckold husband committed suicide by absorbing drugs. The break was brutal and without pardon between the Chirac’s and Nicolas Sarkozy.
  - In 1993, the left lost the legislative elections. President François Mitterrand refused to resign and entered into cohabitation with a right wing Prime Minister.
  - Jacques Chirac who ambitioned the presidency, and was thinking at that point of constituting, with Edoaurd Balladur, a couple comparable to that of De Gaulle and Pompidou, refused to be Prime minister and left his post to his “30 year long friend”, Edouard Balladur.
  - In spite of his sulphurous past, Charles Pasqua became Interior Minister. While keeping high hand over Moroccan marijuana trade, he took advantage of his situation to legalize his other activities taking control of casinos, gambling and horse races in francophone Africa.
    
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  - He wove ties with Saudi Arabia and Israel and became an officer of honour to the Mossad. Nicolas Sarkozy on his part, became minister of Budget and spokesman for the government.
  - In Washington, Frank Wisner, Jr. became the successor of Paul Wolfowitz as head of the Political Planning department of the Department of Defense. Nobody noticed at that time the ties to the spokesman of the French government.
    
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  - It is then that tensions similar to those which rocked the Gaullist party 30 years earlier, broke out between the historical Gaullists and the financial right wing, incarnated by Balladur.
  - The new element was that Charles Pasqua and along with him, the young Nicolas Sarkozy, betray Jacques Chirac in order to join the Rothschild current.
    
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  - Mayhem breaks out. The conflict will reach a climax in 1995 when Edouard Balladur ran for president, against his former friend, Jacques Chirac, and was beaten. Foremost, following instructions from London and Washington, the Balladur government opened negotiations for membership status to the European Union and NATO to States of Central and Eastern Europe who had freed from Soviet control.
  - Havoc reigns then in the Gaullist party where the friends of yesterday are ready to kill themselves today. To be able to finance his electoral campaign, Edouard Balladur attempts to grab the secret slush fund of the Gaullist party, hidden in the double deckered accounting of the books of the oil group ELF.
  - The ride through the desert
  - Through out his first mandate, Jacques Chirac keeps Nicolas Sarkozy at arms distance. The man was discrete during his ride through the desert. Discretely, however, he continued to weave ties to the financial circles.
    
    In 1996, finally succeeding to bring to conclusion an endless divorce procedure, Nicolas Sarkozy marries Cecilia. Two billionaires were their best men, Martin Bouygues and Bernard Arnaud (the richest man of the country).
  - The final act
  - Way before the Iraqi crisis, Frank Wisner Jr. and his colleagues at the CIA plan the destruction of the Gaullist current and the coming to power of Nicolas Sarkozy.
  - They move in three phases: first, the elimination of the leadership of the Gaullist party and the take over of the party apparatus, then the elimination of his main right wing rival and the securing the nomination to the presidential election for the Gaullist party; finally, the elimination of any serious challenger on the left to make sure that Nicolas would win the presidential election.
  - During years, posthumous revelations by a real estate dealer kept the media on their toes.
  - Before dying from a terminal disease, for reasons which remain unknown, he decided to video tape his confessions and for reasons which are even more obscure, the “cassette” landed in the hands of a Socialist party leader, Dominique Strauss Kahn, who addressed it indirectly to the media.
  - While the confessions of the real estate dealer did not lead to any juridical sanctions, they opened up the Pandora’s Box.
  - The main victim of the series of scandals was Prime Minister Alain Juppé. To protect Chirac, he assumed alone all the penal sanctions. The removal of Juppé from the front lodges opened the way for the take by Sarkozy of the leadership of the Gaullist party.
  - Sarkozy exploited then his position to force Jacques Chirac to take him into the government once again, in spite of their reciprocal hatred.
  - This post gave him control over the prefects and the internal intelligence apparatus which he used to gain positions of power over the large administrations.
  - In the end, he became Interior Minister. Mistake !
  - He dealt also with Corsican affairs. Prefect Claude Érignac was murdered. Even though nobody claimed it, the murder was immediately interpreted as a challenge by the independentists to the Republic.
  - Following a long hunt, the police managed to arrest a fleeing suspect, Yvan Colonna, son of a Socialist deputy. Caring little about the presumption of innocence, Nicolas Sarkozy announced the arrest, accusing the suspect of being the assassin.
    
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  - The news is too important, a mere two days away from the referendum the minister has organized in Corsica to modify the status of the island. Be as it may, the electors reject the Sarkozy project, who, according to some, favoured mafia interests.
  - While Yvan Colonna was ultimately declared guilty, he always claimed his innocence and no material proof was ever found against him. Strangely, the man preferred to remain totally silent rather than reveal what he actually knew.
  - We reveal here that prefect Érignac was not directly killed by the nationalists, but by a paid killer, immediately exfiltrated towards Angola where he was hired to the security of the Elf group.
    
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  - The mobile of the crime was precisely connected to the previous functions of Érignac, responsible for the African networks at Pasqua’s cooperation ministry.
  - As for Yvan Colonna, he is a personal friend of Nicolas Sarkozy since decades and their children have entertained social relations.
  - A new scandal broke out then: phoney computer listings were circulating falsely accusing several personalities of hiding bank accounts in Luxembourg, at Clearstream.
  - Among the defamed personalities: Nicolas Sarkozy, who filed a suit insinuating that he suspected his right wing rival to the presidency, Dominique de Villepin, to have organized this machination.
    
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  - In reality, the false listings were put in circulation by members of the French American Foundation, of which John Negroponte was the president and Frank Wisner Jr, the administrator.
    
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  - Sarkozy didn’t hide his intention either to throw him in jail.
  - What the judges ignored and which we reveal here is that the listings were fabricated in London by a common office of the CIA and of MI6, Hakluyt and co, of which Frank Wisner is also an administrator.
  - Villepin denied the accusations, but was indicted, assigned to residence and, de facto, eliminated from political life temporarily.
    
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  - The road is thus free on the right wing for Nicolas Sarkozy.
  - It remained for the opposition candidacies to be neutralized. The membership fees to the Socialist party were reduced to a symbolic level in order to attract new activists. Suddenly, thousands of youth take membership cards. Among them, there were at least 10 000 new members who are in reality militants from the “Lambertist” Trotskyite party, (named after its founder Pierre Lambert).
    
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  - This small extreme left group historically served the CIA against the Stalinist communists during the cold war (it is the equivalent of the Social democrats/USA of Max Schatchman, who trained the US neo-conservatives).
    
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  - It is not the first time the “Lambertists” infiltrate the Socialist party. They introduced there two notorious CIA agents : Lionel Jospin (who became Prime minister) and Jean Christophe Cambadelis, the main advisor to Dominique Strauss Kahn.
  - Two personalities were competing: Laurent Fabius and Ségolène Royal. Only the first was a danger for Sarkozy.
  - Primaries were organized inside the Socialist party to designate its candidate to the presidential election.
  - Dominique Strauss Kahn came into the race with the mission to eliminate Fabius at the last moment. Something he did with the help of the votes of the infiltrated “lambertists”, who voted not for him but for Royal.
  - Frenchmen ignore that he teaches at Stanford, where he was hired by the prévot Dean of the University, Condoleeza Rice. From the beginning of his term, Nicolas Sarkozy and Condoleeza Rice will thank Strauss Kahn by having him elected to the leadership of the International Monetary fund.
    
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  - The operation is possible because Strauss Kahn is since long on the pay roll of the United States.
  - First days at the Élysée
  - The evening of the second round of the presidential election, when polling agencies announced his probable victory, Nicolas Sarkozy gave a short speech to the nation from his general campaign quarters. Then, contrary to all custom, he didn’t celebrate with the militants of his party, but went to the Fouquet’s.
  - The famous brasserie at the Champs-Élysées, formerly the place of rendez-vous of the “Corsican union” is today the property of Casino magnate, Dominique Desseigne. It was lent to the elected president to receive his friends and main campaign donors. Some hundred guests crowded there, the richest men of France hobnobbing with the casino bosses.
  - The elected president then offered himself some days of well merited rest.
  - Transported to Malta by a private Falcon 900, he relaxed on the Paloma, a 65 m yacht of his friend Vincent Bollore, a billionaire trained at the Rothschild bank.
  - Finally, Nicolas Sarkozy was inaugurated president of the French Republic.
  - The first decree he signed was not to enact an amnesty, but to authorize the casinos of his friends Desseigne and Partouche to multiply the money machines.
  - He composed his working team and his government. Without surprise, one finds there an ominous casino owner (the minister of Youth and Sports) and the lobbyist of the casinos of his friend Desseigne (who became a spokesman of the “Gaullist party”.)
  - Nicolas Sarkozy relies above all on 4 men:
    
    - Claude Guéant, secretary general of the Elysée Palace, the former right hand of Charles Pasqua.
    
    - François Pérol, under-secretary general of the Elysée, an associate manager of the Rothschild bank.
    
    - Jean-David Lévitte, diplomatic advisor. Son of the former director of the Jewish Agency. French ambassador to the UN, he was removed by Chirac who judged him too close to George Bush.
    
    - Alain Bauer, the man of the shadows. His name does not appear in the directories. He is in charge of the secret services. Former Grand Master of the French Great Orient (the most important Masonic organization in France) and former N°2 of the United States National Security Agency in Europe.
    
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  - Frank Wisner Jr. who in the meantime was named “special envoy” to President Bush for the independence of Kosovo, insisted that Bernard Kouchner be named minister of Foreign affairs with a double mission priority: the independence of Kosovo and the elimination of France’s Arab policy.
    
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  - Kouchner started his career by participating in the creation of a humanitarian NGO.
  - Thanks to financial support from the National Endowment for Democracy, he took part in operations of Zbigniew Brzezinski in Afghanistan against the soviets, along sides with Oussama Ben Laden and the Karzai brothers.
    
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  - One finds him again in the 90’s working with Alija Izetbegovic in Bosnia Herzegovina. From 1999 to 2001 he was high representatives of the UN to Kosovo.
  - Under the rule of the youngest brother of president Hamid Karzaï, Afghanistan became the first world producer of opium poppies transformed in heroin locally and transported by the US Air force to Camp Bondsteed (Kosovo).
    
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  - There, the men of Hacim Thaci take charge of the drug and distribute it mainly in Europe and accessorily in the United States.
    
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  - The benefits are used to finance the illegal operations of the CIA.
  - Karzai and Thaci are longstanding personal friends of Bernard Kouchner who undoubtedly ignores their criminal activities in spite of all the international reports which have been dedicated to them.
  - To complete his government, Nicolas Sarkozy named Christine Lagarde, minister of the Economy and Finances. All her career was made in the United States where she directed the prestigious law firm Baker and McKenzie.
  - At the Center for international and strategic studies of Dick Cheney, she copresided with Zbigniew Brzezinski a working group which supervised the privatisations in Poland. She organized also an intense lobbying effort for Lockheed Martin against French airplane producer Dassault.
  - New escapade during the summer. Nicolas, Cecilia, their common mistress and their children went on holidays to the United States at Wolfeboro, not far from the property of President Bush.
  - The bill was paid this time by Robert F. Agostinelli, an Italian-New Yorker investment banker, Zionist and a pure brand of neo-conservative who writes in Commentary, the magazine of the American Jewish Committee.
    
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  - The success of Nicolas had impact on his half brother, Pierre Olivier. Under the American name of Oliver, he was named by Frank Carlucci (formerly N°2 of the CIA after having been recruited by Frank Wisner, Sr.) Director of the new investment fund of the Carlyle Group (the common investment firm of the Bush family and Ben Laden).
    
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  - Having become the 5th largest business dealer in the world, he handles the main assets of the sovereign funds of Kuwait and Singapore.
  - One of his communications advisors, Jacques Seguela (also consultant for political communication at the NED where he is in charge of diverse CIA operations in Western Europe and Latin America), proposes to detract the public’s attention with new “people stories”.
  - The popularity of the President is in a free fall in the polls.
  - The announcement of the divorce with Cecilia was publicised by Libération, the paper of his friend Edouard de Rothschild, to cover up the slogans of demonstrators in a day of general strike.
    
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  - Stronger even, the communications agent organized a meeting between the president and the former top model, Carla Bruni. Some days later, her liaison with the president became official and the media hammering covered up once again political criticism.
  - This time, he chose as best men Mathilde Agostinelle (the wife of Robert) and Nicolas Bazire, a former cabinet director of Edouard Balladur who became assistant manager at the Rothschilds.
  - Some weeks later, the third marriage of Nicolas occurred.
  - When will the French use their eyes to see what they have to do ?
    
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  - References
  - [1] Quand le stay-behind portait De Gaulle au pouvoir, par Thierry Meyssan, Réseau Voltaire, 27 août 2001
  - 3] L’Énigme Pasqua, par Thierry Meyssan, Golias ed, 2000.
  - [5] Un relais des États-Unis en France : la French American Foundation, par Pierre Hillard, Réseau Voltaire, 19 avril 2007.
  - 6] Les New York Intellectuals et l’invention du néo-conservatisme, par Denis Boneau, Réseau Voltaire, 26 novembre 2004.
  - [8] Dominique Strauss-Kahn, l’homme de « Condi » au FMI, par Thierry Meyssan, Réseau Voltaire, 5 octobre 2007.
  - [10] Le gouvernement kosovar et le crime organisé, par Jürgen Roth, Horizons et débats, 8 avril 2008.
  - [11] Avec Christine Lagarde, l’industrie US entre au gouvernement français, Réseau Voltaire, 22 juin 2005.
  - [12] L’honorable Frank Carlucci, par Thierry Meyssan, Réseau Voltaire, 11 février 2004.
  - [13] Les liens financiers occultes des Bush et des Ben Laden et Le Carlyle Group, une affaire d’initiés, Réseau Voltaire, 16 octobre 2001 et 9 février 2004.
  - Tags: CIA, France, New World Order, Sarkozy
Fannie & Freddie's Friends In High Places, Inside Look At How Influential Mortgage Financers Kept Regulations At A Distance - CBS News

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fannie-mae freddie-mac ponzie-scheme congress politcians home-loans middle-class low-income us-government greed congressmen washington-dc crooks lobbyists on 2008-09-08
- Fannie & Freddie's Friends In High Places
- Inside Look At How Influential Mortgage Financers Kept Regulations At A Distance
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- - NEW YORK, July 15, 2008
  - It was during the Great Depression that Fannie Mae was founded - in 1938 - with a simple purpose in mind: to give lower and middle income Americans more access to the Great American Dream, owning your own home.
  - It did it by guaranteeing if a homeowner defaulted on a loan the bank would get paid, CBS News chief investigative correspondent Armen Keteyian reports.
  - Today Fannie and its smaller sibling, Freddie Mac, hold a pivotal place in the home loan market - one that has grown to include special advantages, such as:
    
    guaranteed lines of credits from the U.S. Treasury
    
    exemption from state and local taxes
    
    limited government oversight
  - Their privileged status is that of government-sponsored Fortune 500 companies, powered by a vast political machine.
  - "Fannie and Freddie have probably had more influence than any set of institutions in modern times," said former Rep. James Leach.
  - As the former chairman of the House Financial Services Committee, Leach tried for years to hold Fannie and Freddie to tougher financial standards.
    
    "You'd have people in Congress that would make it very clear that they wanted nothing to touch Fannie and Freddie," Leach said.
    
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  - CBS News has learned Fannie and Freddie now boast nearly 150 lobbyists - spending more than $5 million this year alone.
  - In addition, the mortgage giants have doled out about $2 million more in campaign donations in the last four years to key member of Congress.
  - "The view was always held that if they lost even a small battle, it might slide into something more meaningful," said former Rep. Richard H. Baker, R-La. "So every threat was taken seriously."
  - A few years ago, Fannie was fined nearly $400 million after overstating earnings by $10 billion to maximize bonuses.
  - In 2006, Freddie paid a record $4 million fine for illegal fundraisers.
  - Both Fannie and Freddy say they've changed their ways. But, more and more, it appears two companies designed to help average Americans have, in fact, been helping themselves.
    
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cbs5.com - SF Bank Under Siege By People Facing Foreclosure

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wachovia san-fransisco bank home-owners fixed-income home-loans subprime elderly foreclosures property poor banksters on 2008-09-08
- Sep 4, 2008
- SF Bank Under Siege By People Facing Foreclosure
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- - SAN FRANCISCO (CBS 5) ―
    
    A San Francisco Wachovia branch was under siege Wednesday afternoon by people on the verge of losing their homes.
  - Those people accuse the bank of giving them mortgages that the bank knew they couldn't afford.
  - Wachovia is the owner of the former Oakland-based World Savings, a bank that CBS 5 has been investigating for months.
  - Reporting
    Anna Werner
  - The bank is one of the Bay Area's largest, but one that advocates say repeatedly refuses to modify loans and help keep customers in their homes.
  - A CBS5 investigation revealed a pattern of loans to elderly minority homeowners in Oakland and other cities, loans many now say they didn't understand, and could never afford.
  - One of those people is 81-year-old Nell Walker of San Francisco, whose family said in 2006 received a "Pick-A-Pay" loan for over $300,000 even though she's on a fixed retirement income.
  - "I think a lot of it was misleading and it wasn't explained," said Walker.
  - "They gave it to my mom and to this day we still don't know how. She has never worked a day in her life," said her daughter Jacqueline Phillips.
  - Now the minimum payment is about to go up, and Walker may lose her home of over 40 years. "It's awful! I'm 81 years old," she said.
  - "We got fooled into loans that we couldn't understand, and I think they need to show a little good faith and renegotiate our loans," said her daughter.
  - Phillips, who belongs to community organizing group Acorn, took her frustrations directly to the teller counter at this downtown Wachovia office.
  - The demand: that the branch fax a letter to Wachovia's new CEO. "We would like you to fax this to your CEO," she told the branch manager.
  - "We will not," he replied. As she later put it to us: "Just like Wachovia, that's what you get. The brushoff."
  - A few hours later the bank did agree to fax the letter, which calls for Wachovia to renegotiate the protesters' loans.
The Globalizer Who Came In From the Cold | 100777.com

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joe-stiglitz imf world-bank us-treasury greg-palast interview defector nations interest-rates capitol third-world pirates rape economics larry-summers bill-clinton country-assistance-strategy nafta gatt on 2008-09-09
- The Globalizer Who Came In From the Cold
- June 1, 2003
- 46 more annotations...
- - World Bank Insider Speaks Out by Greg Palast
  - JOE STIGLITZ: TODAY´S WINNER OF THE NOBEL PRIZE IN ECONOMICS
  - The World Bank´s former Chief Economist´s accusations are
    eye-popping - including how the IMF and US Treasury fixed the Russian
    elections
    
    http://jahtruth.net/greeneco.htm
  - This was like a scene out of Le Carre. The brilliant old agent
    comes in from the cold, crosses to our side, and in hours of debriefing,
    empties his memory of horrors committed in the name of a political ideology
    he now realizes has gone rotten.
  - "It has condemned people to death," the former apparatchik
    told me.
  - And here before me was a far bigger catch than some used Cold War spy.
    Joseph Stiglitz was Chief Economist of the World Bank. To a great extent,
    the new world economic order was his theory come to
    life.
  - I "debriefed" Stigltiz over several days, at Cambridge University,
    in a London hotel and finally in Washington in April 2001 during the big
    confab of the World Bank and the International Monetary
    Fund.
  - But instead of chairing the meetings of ministers and central
    bankers, Stiglitz was kept exiled safely behind the blue police cordons,
    the same as the nuns carrying a large wooden cross, the Bolivian union
    leaders, the parents of AIDS victims
    and the other anti-globalization protesters. The ultimate insider was
    now on the outside.
  - In 1999 the World Bank fired Stiglitz. He was not allowed quiet retirement;
    US Treasury Secretary Larry Summers, I´m told, demanded a public
    excommunication for Stiglitz´having expressed his first mild dissent
    from globalization World Bank style.
    
    Add Sticky Note
  - Here in Washington we completed the last of several hours of exclusive
    interviews for The Observer and BBC TV´s Newsnight about the real,
    often hidden, workings of the IMF, World Bank, and
    the bank´s 51% owner, the US Treasury.
    
    Add Sticky Note
  - And here, from sources unnamable (not Stiglitz), we obtained a cache
    of documents marked, "confidential," "restricted,"
    and "not otherwise (to be) disclosed without World Bank authorization."
  - Stiglitz helped translate one from bureaucratise, a "Country Assistance
    Strategy." There´s an Assistance Strategy for every poorer
    nation, designed, says the World Bank, after careful in-country investigation.
    
    Add Sticky Note
  - But according to insider Stiglitz, the Bank´s staff investigation
    consists of close inspection of a nation´s 5-star hotels. It concludes
    with the Bank staff meeting some begging, busted finance minister who
    is handed a restructuring agreement pre-drafted for his voluntary´
    signature (I have a selection of these).
  - Each nation´s economy is individually analyzed, then, says Stiglitz,
    the Bank hands every minister the same exact four-step program.
  - Step One is Privatization - which Stiglitz said could more accurately
    be called, Briberization. Rather than object to the sell-offs of state
    industries, he said national leaders - using the World Bank´s demands
    to silence local critics - happily flogged their electricity and water
    companies. "You could see their eyes widen" at the prospect
    of 10% commissions paid to Swiss bank accounts for simply shaving a few
    billion off the sale price of national assets.
    
    Add Sticky Note
  - And the US government knew it, charges Stiglitz, at least in the case
    of the biggest briberization of all, the 1995 Russian sell-off.
  - "The
    US Treasury view was this was great as we wanted Yeltsin re-elected. We
    don´t care if it´s a corrupt election. We want the money to
    go to Yeltzin via kick-backs for his campaign.
  - Stiglitz is no conspiracy nutter ranting about Black Helicopters. The
    man was inside the game, a member of Bill Clinton´s cabinet as
    Chairman of the President´s council of economic advisors.
    
    Add Sticky Note
  - Most ill-making for Stiglitz is that the US-backed oligarchs stripped
    Russia´s industrial assets, with the effect that the corruption
    scheme cut national output nearly in half causing depression and starvation.
    
    Add Sticky Note
  - After briberization, Step Two of the IMF/World Bank
    one-size-fits-all rescue-your-economy plan is Capital Market Liberalization.
    In theory, capital market deregulation allows investment capital to flow
    in and out. Unfortunately, as in Indonesia and Brazil, the money simply
    flowed out and out. Stiglitz calls this the "Hot Money" cycle.
    Cash comes in for speculation in real estate and currency, then flees
    at the first whiff of trouble. A nation´s reserves can drain in
    days, hours. And when that happens, to seduce speculators into returning
    a nation´s own capital funds, the IMF demands these nations raise
    interest rates to 30%, 50% and 80%.
  - "The result was predictable," said Stiglitz of the Hot Money
    tidal waves in Asia and Latin America. Higher interest rates demolished
    property values, savaged industrial production and drained national treasuries.
  - At this point, the IMF drags the gasping nation
    to Step Three: Market-Based Pricing, a fancy term for raising prices on
    food, water and cooking gas. This leads, predictably, to Step-Three-and-a-Half:
    what Stiglitz calls, The IMF riot.´
    
    Add Sticky Note
  - The IMF riot is painfully predictable. When a nation
    is, "down and out, [the IMF] takes advantage
    and squeezes the last pound of blood out of them. They turn up the heat
    until, finally, the whole cauldron blows up," as when the IMF
    eliminated food and fuel subsidies for the poor in Indonesia in 1998.
    Indonesia exploded into riots, but there are other examples - the Bolivian
    riots over water prices last year and this February, the riots in Ecuador
    over the rise in cooking gas prices imposed by the World Bank. You´d
    almost get the impression that the riot is written into the plan.
    
    Add Sticky Note
  - And it is. What Stiglitz did not know is that, while in the States, BBC
    and The Observer obtained several documents from inside the World Bank,
    stamped over with those pesky warnings, "confidential," "restricted,"
    "not to be disclosed."
  - Let´s get back to one: the "Interim
    Country Assistance Strategy" for Ecuador, in it the Bank several
    times states - with cold accuracy - that they expected their plans to
    spark, "social unrest," to use their bureaucratic term for a
    nation in flames.
    
    Add Sticky Note
  - That´s not surprising. The secret report notes that the plan to
    make the US dollar Ecuador´s currency has pushed 51% of the population
    below the poverty line. The World Bank "Assistance" plan simply
    calls for facing down civil strife and suffering with, "political
    resolve" - and still higher prices.
  - The IMF riots (and by riots I mean peaceful demonstrations
    dispersed by bullets, tanks and teargas) cause new panicked flights of
    capital and government bankruptcies. This economic arson has it´s
    bright side - for foreign corporations, who can then pick off remaining
    assets, such as the odd mining concession or port, at fire sale prices.
    
    Add Sticky Note
  - Stiglitz notes that the IMF and World Bank are not
    heartless adherents to market economics. At the same time the IMF
    stopped Indonesia subsidizing food purchases, "when the banks need
    a bail-out, intervention (in the market) is welcome." The IMF
    scrounged up tens of billions of dollars to save Indonesia´s financiers
    and, by extension, the US and European banks from which they had borrowed.
  - A pattern emerges. There are lots of losers in this system
    but one clear winner: the Western banks and US Treasury, making the big
    bucks off this crazy new international capital churn.
    
    Add Sticky Note
  - Stiglitz told me
    about his unhappy meeting, early in his World Bank tenure, with Ethopia´s
    new president in the nation´s first democratic election. The World
    Bank and IMF had ordered Ethiopia to divert aid money
    to its reserve account at the US Treasury, which pays a pitiful 4% return,
    while the nation borrowed US dollars at 12% to feed its population.
  - The
    new president begged Stiglitz to let him use the aid money to rebuild
    the nation. But no, the loot went straight off to the US Treasury´s
    vault in Washington.
  - Now we arrive at Step Four of what the IMF and World
    Bank call their "poverty reduction strategy": Free Trade.
  - This
    is free trade by the rules of the World Trade Organization and World Bank,
    Stiglitz the insider likens free trade WTO-style to the Opium Wars.
    
    Add Sticky Note
  - "That
    too was about opening markets," he said. As in the 19th century,
    Europeans and Americans today are kicking down the barriers to sales in
    Asia, Latin American and Africa, while barricading our own markets against
    Third World agriculture.
  - In the Opium Wars, the West used military blockades to force open markets
    for their unbalanced trade. Today, the World Bank can order a financial
    blockade just as effective - and sometimes just as deadly.
  - Stiglitz is particularly emotional over the WTO´s intellectual
    property rights treaty (it goes by the acronym TRIPS, more on that in
    the next chapters). It is here, says the economist, that the new global
    order has "condemned people to death" by imposing impossible
    tariffs and tributes to pay to pharmaceutical companies for branded medicines.
    "They don´t care," said the professor of the corporations
    and bank loans he worked with, "if people live or die."
    
    Add Sticky Note
  - By the way, don´t be confused by the mix in this discussion of
    the IMF, World Bank and WTO. They are interchangeable
    masks of a single governance system.
  - They have locked themselves together
    by what are unpleasantly called, "triggers." Taking a World
    Bank loan for a school triggers a requirement to accept every conditionality
    - they average 111 per nation - laid down by both the World Bank and IMF.
    In fact, said Stiglitz the IMF requires nations to
    accept trade policies more punitive than the official WTO rules.
  - Stiglitz greatest concern is that World Bank plans, devised in secrecy
    and driven by an absolutist ideology, are never open for discourse or
    dissent. Despite the West´s push for elections throughout the developing
    world, the so-called Poverty Reduction Programs "undermine democracy."
  - And they don´t work. Black Africa´s productivity under the
    guiding hand of IMF structural "assistance"
    has gone to hell in a handbag. Did any nation avoid this fate? Yes, said
    Stiglitz, identifying Botswana. Their trick? "They told the IMF
    to go packing."
  - So then I turned on Stiglitz. OK, Mr Smart-Guy Professor, how would you
    help developing nations? Stiglitz proposed radical land reform, an attack
    at the heart of "landlordism," on the usurious rents charged
    by the propertied oligarchies worldwide, typically 50% of a tenant´s
    crops. So I had to ask the professor: as you were top economist at the
    World Bank, why didn´t the Bank follow your advice?
  - "If you challenge [land ownership], that would be a change in the
    power of the elites. That´s not high on their agenda." Apparently
    not.
  - Ultimately, what drove him to put his job on the line was the failure
    of the banks and US Treasury to change course when confronted with the
    crises - failures and suffering perpetrated by their four-step monetarist
    mambo. Every time their free market solutions failed, the IMF simply demanded
    more free market policies.
  - "It´s a little like the Middle Ages," the insider told
    me, "When the patient died they would say, well, he stopped the bloodletting
    too soon, he still had a little blood in him."
  - I took away from my talks with the professor that the solution to world
    poverty and crisis is simple: remove the bloodsuckers.
  - A version of this was first published as "The IMF´s
    Four Steps to Damnation" in The Observer (London) in April and another
    version in The Big Issue - that´s the magazine that the homeless
    flog on platforms in the London Underground. Big Issue offered equal space
    to the IMF, whose "deputy chief media officer"
    wrote:
    
    "... I find it impossible to respond given the depth and breadth
    of hearsay and misinformation in [Palast´s] report."
    
    Of course it was difficult for the Deputy Chief to respond. The information
    (and documents) came from the unhappy lot inside his agency and the World
    Bank.
    
    Add Sticky Note
Page 2: Wall Street privatises US government: be very afraid - Telegraph

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the-fed henry-paulson us-government wall-street china currency lehman-brothers bear-stearns tax-payers home-loans prices middle-class on 2008-09-17 and saved by 2 people
- Wall Street privatises US government: be very afraid
- By Charles Dumas
  Last Updated: 2:03am BST 14/09/2008
  Page 2 of 3
- 27 more annotations...
- - Last autumn and winter, only too clearly panicked by Wall
    Street's fear of meltdown, the Fed made huge cuts in interest
    rates, as well as advancing (much more reasonably) over a quarter
    trillion dollars to the money market.
  - Nor is the monetary policy of the Federal Reserve designed to give
    comfort.
  - The sense of panic told global
    investors all they needed to know.
  - China's accumulation of reserves, running at $500bn a year,
    had to be kept in dollars to support its (unwise) policy of
    controlling the yuan/dollar exchange rate.
  - But the funds all got
    shifted to government or Frannie paper - no doubt a major force
    behind the US government's backing of Frannie:
  - sudden
    withdrawal of China's dollar support genuinely might lead to
    financial Armageddon, in contrast with a few badly needed Wall
    Street failures.
  - Others flew the dollar - to anything they could think of. The
    euro, the yen, but notably to oil and other commodity derivatives.
    Commodity derivatives held off the public exchanges, "over the
    counter" (OTC), grew six-fold in three years, from $1.5
    trillion at the end of 2004 to $9 trillion at the end of 2007 (and
    no doubt more since, though the data have yet to be published).
  - This is eight times the size of public-exchange commodity
    derivatives about which information is more detailed.
  - Nobody knows
    the form of these OTC positions. But oil prices doubled from $70 a
    barrel just before the credit crisis to over $140 at the peak in
    July this year - and have since seen one of the fastest commodity
    price collapses ever, to little over $100. Those positions contained
    huge speculative accounts.
  - Who pays for dearer oil? Chiefly, the US consumer.
  - So the rescue
    of Wall Street has panicked the Fed into a policy that has hammered
    American taxpayers, just as they have been called upon to finance
    the bailout of Wall Street.
    
    Add Sticky Note
  - The Fed's goals, as specified by Act of Congress, are to
    sustain good growth and keep inflation low (in that order).
  - By its
    subjection to Wall Street priorities, it has both stimulated price
    inflation - the CPI was up 5.6 per cent over the latest 12 months -
    and thereby cut the real value of US incomes, and with them US growth.
    
    Add Sticky Note
  - It has thus failed in both its mandated goals. With one bullet -
    panicky interest rate cuts that have little relationship to saving
    Wall Street in any case - it has shot itself in both feet.
  - The irony is - I hesitate to say "joke", though black
    joke it is - that Wall Street did not need it, and will not (of
    course) be grateful.
  - Sometime over this weekend, probably - or maybe
    a little later - Lehman Brothers is expected to endure a similar
    fate to Bear Stearns six months ago.
    
    Add Sticky Note
  - Perhaps "Hank the hunk" Paulson, former head of the
    leading Wall Street firm, Goldman Sachs, will play his usual highly
    visible part in devoting US taxpayers' resources to the cause.
    And will the world come to an end? Just as was feared at Y2K, or the
    CERN experiment last week? Well, actually, no.
  - And Wall Street realised this on Thursday when, after several
    days' worry over Lehman's fate, the stock market managed
    to go down sharply at the opening and then realise that it did/does
    not matter so much after all, ending up sharply instead. Neither
    would it have mattered much last March, had Bear Stearns simply been
    let go. Finally light has dawned.
  - Free markets have
    been abandoned in America at the crucial hour by their chief
    exemplars, the financial masters of the universe.
  - In the meantime, the world has been changed.
  - Let us hope that
    the convictions of the British financial and political community,
    though less confidently flaunted, will prove more durable.
  - Firms that fail after doing stupid things - or sometimes firms
    that are just plain unlucky - should go to the wall.
  - Opinions may
    differ as to which category Northern Rock (our own particular policy
    disgrace) falls into.
  - The economy will recover sooner if banks that have made stupid
    mortgage loans suffer, and house prices fall more rapidly to levels
    at which affordability is obvious and buyers come forward.
  - Society
    will also be more just.
  - We should be grateful the Bank of England
    has an inflation target, not a confusing mishmash like the Fed. And
    that Mervyn King sticks to it.
  - It seems that President Bush and the Republicans are not just well
    to the left of Grover Norquist. They leave clear blue water on the
    left of Gordon Brown, much to the envy of Euro-lefties no doubt, who
    would love to ditch what they call "neo-liberalism", and
    what we call free markets, as easily as the American right wing.
Page 1: Wall Street privatises US government: be very afraid - Telegraph

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charles-dumas wall-street federal-reserve mortgage-crisis us-government lehman freddie-mac fannie-mae fear america home-owners middle-class economy bail-outs on 2008-09-17 and saved by 3 people
- Wall Street privatises US government: be very afraid
- By Charles Dumas
  Last Updated: 2:03am BST 14/09/2008
  Page 1 of 3
- 23 more annotations...
- - The US low-tax zealot, Grover Norquist, is famous for wanting to
    "shrink government down to the size where we can drown it in
    the bathtub".
  - Still alive, he is not turning in his grave, but
    his idea has been well and truly buried - and not by the Democrats
    he hates; they have been tongue-tied on the credit crisis.
  - It is Wall Street, the paradigm of "red in tooth and
    claw" capitalism, that has turned to government subsidy on an
    unprecedented scale.
  - Low, ideally non-existent, taxes may be very desirable, but when
    free-market principles came into conflict with the survival of
    business as we know it, priorities were clear. The US Federal
    government's full faith and credit - in other words, the
    resources of American taxpayers - should be urgently deployed to
    preserve as much as possible of the financial industry.
  - Luckily for Wall Street, government was still too big to fit in
    that bathtub - and proved only too willing to take up the challenge.
  - The scale of the operation has been huge. The Bear Stearns'
    takeover last March by JP Morgan was helped down by a spoonful of
    sugar in the form of $29bn of quasi-equity investment by the Federal
    Reserve Board that can only go down in value, never appreciate.
  - By March the Fed might have been forgiven for hardly noticing a
    mere $29bn: it had provided more than $250bn in liquidity assistance
    to the money markets, accepting dodgy mortgage paper as collateral.
  - Lucky old Wall Street - though, to be fair, this liquidity was the
    only justifiable aspect of the Fed's conduct in the 15 months
    of credit crunch.
  - The "Bear" was only the hors d'oeuvre, as anyone
    could see. After a mid-summer Act of Congress promising major help
    to the mortgage market, the full scope of potential largesse from
    Washington was more thoroughly exploited last weekend when the two
    giant "government sponsored enterprises", nicknamed Fannie
    Mae and Freddie Mac - here collectively "Frannie" for
    convenience - were formally extended a Federal government guarantee
    by Treasury Secretary Paulson.
  - Out of the country's total home mortgages of
    $10.5 trillion the lowest tier, sub-prime, is (or was) about $1.5
    trillion, with another dubious category called "Alt-A"
    (also not "prime"), of another $0.5 trillion.
  - Frannie is emphatically, in fact by definition, not part of the
    sub-prime crisis.
  - Within sub-prime, came the so-called "Ninja" mortgages:
    qualifications required being No Income, No Job or Assets, and in
    the bulk of cases no documentation either.
    
    Add Sticky Note
  - Wall Street's
    enthusiasm for this kind of paper led to the losses even at 15 per
    cent higher, house prices a year ago, requiring the hors
    d'oeuvre described above.
  - With house prices now nearly 20 per cent down from their peak, the
    story has moved on from sub-prime to prime. Frannie is the main
    course.
  - The definition of a prime loan is one that can be taken onto
    the Frannie balance sheet, or placed with investors under a Frannie
    guarantee. With about $8.5 trillion of prime loans out there in
    total, Frannie is on the hook, in one form or another, for more than
    half, some $4.5 trillion.
  - Back in the sound-money days of more than a half-century ago,
    Senator Everett Dirksen came up with the classic thought about the
    US Federal government: "A billion here, a billion there… pretty
    soon you're talking about real money".
  - In these go-go days for fiscal "conservatives", it
    is more like "a trillion here, a trillion there…".
  - The Frannie deal is big even by today's standards. It
    single-handedly vaults the US from a public debt ratio in the
    sound-money range into the company of fiscal basket-cases like Italy
    and Belgium, and that long-standing economic invalid, Japan.
  - The chart shows how the net US government sector debt pre-Frannie
    was about the same size relative to the economy as Germany, though
    worse than other G7 peers such as Canada, Britain and France. Now
    with one bound, the addition of $4.5 trillion puts it up there with
    Italy and Japan.
    Fed closes the door on hands-off economics. Source:
    Lombard Street Research
  - For connoisseurs, the post-Frannie endorsement of the rating
    agency, Standard & Poor's, may raise an eyebrow: the
    triple-A rating of the US government is unaffected, we were told
    after last weekend's events.
  - Many a nasty, even catastrophic,
    deterioration of credit has started with such a reassurance.
  - I have myself dealt with bankruptcy of a company that was
    actually "in the can" less than a year after it was
    triple-A rated. But triple-A rated mortgage securities trading at 50
    cents in the dollar are bad enough.
  - A bank whose credit-worthiness
    requires public defence has generally lost it.
Execute

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jim-kirwan dick-eastman federal-reserve nwo america economy us-government state communities currency banksters traitors treason luciferians americans citizens bob-taft ron-paul bob-barr on 2008-09-20
- Execute
- By Dick Eastman
  
  9-20-8
- 70 more annotations...
- - The damage has been done and will continue all the way
    to the bottom for us -- but not for them.
  - The men behind Goldman-Sachs
    and JPMorganChase and BankAmerica are eliminating the competition, are
    gaining the assets they will no longer have to share with the lower circles
    of banking thought-they-were elites.
  - This is a controlled economic event,
    a well-planned transfer of wealth, an intensified concentration of financial
    power among the credit monopolists.
    
    Add Sticky Note
  - I offered the solution -- no not
    social credit, of course no one is going to adopt that right path and
    I know that --
  - but I offered a solution that was in the hands of American
    institutions that exist today, that would have ended the housing crisis
    and would have avoided the marble soul death of the American people
  - --
    I see that other countries' central banks are rushing to lower their reserve
    requirements to prevent the American disease from killing them too.
  - You will recall that I proposed cutting the reserve requirement
    and having banks use the funds for interest free loans extending credit
    to the distressed homeowners and allowing stimulation of the people (as
    close as we could come to actually doing what social credit would do for
    us) -- the proposal was here: http:// groups.yahoo.com/group/frameup/message/26239
    --
  - and it is still a good answer, although there are so many many fewer
    of households left to save from ruin now.
  - But you know that our financial
    elites -- who you know are our real ruling elites -- do not give bailouts
    to the common man, but only to themselves, bailing out their own derivatives
    and other malinvestments --
  - actually predatory investments knowing exactly
    that they could figure on the bailouts when they planned all of this.
  - But of course they made it nearly impossible for us to declare bankruptcy
    from the condition their manipulations forced upon us.
    
    Add Sticky Note
  - Of course they
    outlawed the people who have caught on to what was afoot from making their
    own short sells on this economy.
  - And the Rothschilds' IMF audited the Fed to learn exactly
    what could be gotten away with -- this will help you remember http://www.rense.com/general82/audit.htm
    .
    
    Add Sticky Note
  - There are gainers, but the media would have you believe their are only
    losers. Don't be fooled; when Morgan and Goldman Sachs stocks go down
    in this crisis down it is only because they realized they were looking
    too good and standing too obviously pretty earlier in the week when everyone
    else was dying off and Morgan raised a penny.
  - Their gains in monopoly
    power and in new regulatory advantage of incalculable wealth and advantage
    for them -- they gain like Israel after 9-11.
  - Anyway, I have been enjoying my retirement from "conspiracy
    theory" and home-schooling my 12-year-old daughter Madeleine is going
    well -- I don't even think about the world outside the house.
  - My heath
    and happiness have increased -- only at night or when driving past the
    empty houses for sale and the boarded up businesses -- see picture above
    -- does the truth break out in my mind and a cloud comes over Dad's face.
  - I wrote a solution back March on what should be done
    "If the Banks Fail" which is still available on rense here:
    http:// www.rense.com/general82/banks.htm
    
    Add Sticky Note
  - On Friday, I re-hook up the computer to let my daughter
    view the youtubes her young friends have made -- and when she is done
    I download my mail. The no-planers and gatekeepers are still controlling
    the 9-11 discussion.
  - The pro-Obama, pro-Paul and pro- Barr people are
    still pretending to be on our side and most of you are believing it.
    
    Add Sticky Note
  - But just as no herd of cattle was ever benefited by a maverick steer (especially
    one with the AIPAC brand) so we see that Obama's advisors are all money
    power Zionists -- his economic adivsors and his VP -- are as close to
    Bush as Bill Clinton was close to Newt Gingrich on every issue of the
    Rockefeller-Rothschild globalist agenda.
  - And St. Paul of the Golden
    Cross was so clever to "endorse Barr, McKinney and Nader and a few
    others" making it look like he is resistance, when in fact by not
    zeroing in one any one opposition candidate to support he has in effect
    taken all of that support people have given him and wrapped it in a big
    wet sack and tossed it into the black and bottomless well of nowhere and
    never.
    
    Add Sticky Note
  - Paul has done his job for his masters -- he has prevented real
    opposition from appearing, just as Kucinich and Perot before him.
  - I have been reading Plutarch's lives at night. His Lives
    of the Noble Greeks. Plutarch understood politics better than we do.
    If you ever homeschool your teens, have them read Plutarch's biography
    of Alcibiades -- and you will see the perfect type of the people who
    rule the world today.
  - I was amazed that this account by Plutarch existed
    and that no one has told me about it before I discovered it from a copy
    purchased at Good Will when looking for some pants that fit.
  - Every citizen
    of any commonwealth with any hope for saving his countrymen from penury
    and slavery should read this warning of what evil men are capable of and
    how they operate.
  - http://penelope.uchicago.edu/Thayer/E/Roman/Texts/Plutarch/Lives/
    Alcibiades*.html
  - Or here:
    
    http://www.bostonleadershipbuilders.com/plutarch/alcibiades.htm
  - Now we know what the elites have been reading and why
    they love the classics and keep them to themselves.
  - You may also wish to read about the founder of Sparta
    -- for the type of man that we the people need today -- for that read
    Plutarch's history of Lycurgus
    
    http://penelope.uchicago.edu/Thayer/E/Roman/Texts/Plutarch/Lives/
    Lycurgus*.html
    
    http://www.constitution.org/rom/plutarch/lycurgus.htm
  - The watchman on the wall must sound the alarm or the
    blood of his city will be on his hands.
  - Yours sincerely,
    
    Dick Eastman
    
    Yakima, Washington
    
    Every man is responsible to every other man. oldickeastman@q.com
  - Comment
    
    Bob Taft
  - Most of the "why's are well known but it is the
    dearth of solutions that most hesitate to suggest.
  - Apparently those in attendance at the meeting of politicians
    and bureaucrats that just decided on the current bailout of the banksters
    all went away "scared" according to reports.
  - Five million Main Street
    home owners indebted to the banksters vs. a handful of mega-banksters
    on Wall Street. More billions to come out of our hides. No question
    as to who wins.
  - We should all
    be scared of what they have decided to do to us.
  - On the solution side, there is one emergency plan that
    worked well in 1933 and could do so again. You can buy a catalog of
    DEPRESSION SCRIP, quite a big book, for collectors of such.
  - When Roosevelt
    shut the bank doors for a few days - to save the banks - thousands of
    communities across the country, and in Canada, went to their local printers
    and had local currency printed up to keep local economies moving.
  - Not
    all were political entities, many fraternal or business groups jumped
    in to run the programs. All it took was a few people with integrity.
  - We know that this is seriously lacking in FedGov.
    
    Add Sticky Note
  - To be sure, the banks
    quickly reopened, lest the people discover that they could get along quite
    nicely without them.
  - Actually there are hundreds of communities already in
    position, using local currencies to a limited extent.
  - Like UticaHours
    in NY state.
  - While all our political subdivisions in the US are corporate
    entities functioning with huge asset accumulations as shown in their CAFRs,
    there are undoubtedly many thousands of local politicians and local government
    employees who when the chips are down, as they are about to be, will side
    with their fellow citizens and against the faceless banksters who manage
    the huge accumulations of wealth in government coffers.
    
    Add Sticky Note
  - Actually all
    wealth, governments' included, is placed at risk by the criminal minds
    on Wall Street and in the Fed, which is actually owned by Wall Street
    and their ilk.
  - It will soon become critically important for all communities
    to have a currency available to keep their economies viable.
  - It would
    be great of the several states would do this so their currencies might
    keep larger territories functioning. Better yet, it would be great if
    the states would use their own ability to create currency, and the threat
    thereof, to force US Treasury to go back into money creation and to DUMP
    the FedRes.
  - So what if the 1787 ConJob says only the US may create money.
    They have abandoned that mandate for nearly a century.
  - It is time the
    American people demanded the government do what their ConJob requires
    of them. OR ELSE, the states will take charge.
  - All revolutions need
    not be bloody ones. The system is collapsing. Time is of the essence.
    Screw Wall Street.
    
    Best regards,.
    
    Bob Taft
    
    The Taft Ranch
    
    Upton, Wyoming
  - Comment
    
    Jim Kirwan
  - Excellent analysis Dick, but equally dire because you
    care so much about those of us that are trapped at the bottom of the ladder
  - In so many ways you and I are very much alike, and yet
    in many ways we are also polar opposites, not by nature, but by circumstance
    and environment.
  - I just finished a trio of articles on this same topic,
    but I've lived and worked "among them" for many many years.
    And what I gleaned from that experience is that they always eat their
    young along with all those they are sometimes forced to come in contact
    with: once anyone comes to "know" this they violate the margins
    of their own survival by failing to remember who these butchers truly
    are.
  - In many ways I envy your 'place apart' but I could never
    live there. I wanted to go to college many decades ago, to actually get
    an education, and while I had three full scholarships lined up each one
    met with complete disaster for one reason or another, until I figured
    out that I wouldn't be going to college - so I set about educating myself
    instead.
  - I'm pleased with how that worked out, but that's also part of
    what separates our views in these treacherous times.
  - My 'education' is
    of the kind where there are very seldom any second chances, hence there
    is almost no room to retain too much illusion. Imagination and creativity
    - YES, but expecting the junk-yard-dogs to suddenly lie down with new-born
    infants isn't part of these equations.
  - I love literature and the arts, but for me; when I first
    began to paint I wore a 32 Berretta in a shoulder-holster, with a paint
    brush in my other hand, and because of where I was and how I was living
    that was not extreme.
  - That 'kid' seems to have remained alive at least
    inside, even though I no longer wear a gun: but I have come to understand
    that part of fighting for anything is the willingness of spirit to see
    the value in that native expression: "It's a Great Day to Die."
  - I realize that this only works for some people, it is certainly not something
    that would work for most. This by way of saying that whenever anyone wants
    to change anything major in this world, then we must be prepared to fight
    those enemies where they live, but with our weapons, not theirs.
  - I've shed some blood over the things I believe in, and
    lost some of my own in that process. I've survived a number of 'contracts'
    on my life, over the years by some equally determined people from the
    other side. I'm still here, most of them are not.
  - But no one can remain
    lucky or careful enough forever, and none of us gets out of this experience
    alive.
  - What has carried me a lot further than I could ever have imagined
    are the invisible means of support that I've been fortunate enough to find
    along the way. That is indicated by the bright line of fire near the knees
    that indicates the strength of the invisible- means-of-support, that anyone
    with them can fall back upon. http://www.kirwanesque.com/deck/crossroads/xii.htm
  - I imagine that you have had similar experiences. Please
    revisit your power-bases and recharge the batteries, because the worst
    is yet to come, and we need you in one piece for the war that's coming!
  - Critical thinking in my case came out of the need to
    survive in a world where I was very small and without most of the resources
    that tend to assist the downtrodden with small victories.
  - The logic and
    reason that have survived in my world have been tempered in cauldrons
    of fire and caves of ice: it's part of what has shaped me, and at the
    same time it sets my views apart from most of the others that roam the
    fringes of society today.
  - Please stay in the fray Dick, do not let the bastards
    grind you down - they will ultimately fail, because no cause or person
    can survive with the kind of Karma they're currently dragging around,
    and the world 'knows' this, as clearly as we do.
  - Thank you for the article! It will take some time to
    absorb it all, given everything else you sent as well, but I'm sure there
    will be much in there that will go further than you might imagine at this
    moment - because nature still has lots of cards to play, and nothing
    is yet written in stone!
  - These creatures brought us the first major depression
    and everything from then till now, but that does not mean that they have
    a license to continue doing this to all the rest of us, in perpetuity!
    
    Please keep writing. . .
    
    kirwan
One Of The Great Vortexes Of History

www.rense.com/...vortex.htm - Preview

karl-schwartz us-government america united-kingdom europe world end-time banksters rothschilds history illuminati luciferians conspiracy nwo antichrist economics wars on 2008-09-21
- We Are In One Of The Great
  
  Vortexes Of History
- By Karl Schwarz
  
  9-21-8
- 57 more annotations...
- - We are in one of the great vortexes of history now.
    
    Add Sticky Note
  - If
    you stand back, from the "trees" of daily life, and look at the
    broad "forest" of our joint history as the human race, you can
    see clear patterns.
  - Every so often the human race, or major parts thereof,
    goes through major life changing events: wars, revolutions, economic crisis/recessions/depressions.
  - It is clear that we are now in one of the largest of such events; that
    we are in a great vortex and we have not even gone half way into this experience.
  - Terms like "global financial meltdown", "global
    financial catastrophe", "World War III", "global depression"
    are becoming standard in describing where we are and where we are headed.
  - The world's central banks are pumping hundreds of billions of dollars into
    the global economy. Additionally government backed bailouts and arranged
    sales in the tens and hundreds of billions are now daily events,
  - the total
    in America alone is now about one trillion dollars; and still the news
    continues to get worse.
  - Many are rightly claiming to have warned us of the financial
    nightmare that we are now in.
  - A nightmare that is more and more like a
    "tar baby"; the more we handle it, the worst it gets. One economic/financial
    crisis leads to another.
  - Already serious worries about the US$455 trillion
    derivative market are beginning to creep into worried conversations and
    news stories. Elderly people, who can remember the "Great Depression"
    are saying we are going into another one; and increasingly serious economic
    experts are voicing the same opinion.
  - We "knew", or should have known, that the dismantling
    of governmental controls, erected in the aftermath of the Great Depression,
    would eventually cause a financial firestorm.
  - We "knew", or should
    have known, that the "hands off" approach of the last several
    administrations in America, and the United Kingdom and elsewhere, would
    lead to no good.
  - We "knew", or should have known, that all these
    new financial instruments, debt swaps, derivatives, etc., etc., were nothing
    but trouble.
  - So, why did "we" let this happen.
  - The answer is
    two-fold: the "we" is not us; and the "we" is us. The
    true masters of the financial world, and political world for that matter,
    are simply not the elected political leaders ~ they are largely just "front
    men" ~
    
    Add Sticky Note
  - the real power always is largely unseen and "behind the
    throne" and constitute a very tiny percentage of the human race.
  - However,
    we ~ the great masses of people ~ are the very ones that empower those
    behind the throne/curtain, who like the Wizard of Oz can only maintain
    control if the masses chose to remain blind, stupid, and too lacking in
    courage and morality to see and change reality.
    
    Add Sticky Note
  - The world's economy and politics are largely controlled
    by a small number of global banking families, some of whom have been at
    the game for over 200 years.
    
    Add Sticky Note
  - They have simply massive levels of money and
    resources of all types at their disposal. They control the central banks
    of America (the Federal Reserve, which is privately owned ~ no more a part
    of the constitutional Federal government than Federal Express [Fed Ex]
    is), the European Union, etc.
  - These families follow a formula when they want to institute
    changes for their own benefit: thesis, antithesis, synthesis.
  - For example,
    they organized the First World War, and it resulted in mass murder and
    economic crisis as it went on for years.
  - In the Russian Empire the "thesis"
    was WWI, the "antithesis" was the effect on the population and
    the political "blow back" from the war. The "synthesis"
    was the rise of communism, which they financed and controlled, and the
    total police state control of the former Russian Empire that it gave them.
  - Prior to WWI the Russian Tsar would not allow the Rothschilds and other
    global bankers to control his economy.
    
    Add Sticky Note
  - The "synthesis" was one
    of the true goals of the "thesis" (WWI) and the "antithesis"
    (the population's response to the horrors of war).
  - The Great Depression was the antithesis to the excesses
    (thesis) of the 1920s and the result (synthesis) was a greatly expanded
    Federal government with massive programs (aimed at ending the Great Depression)
    that required vast amounts of funding from their privately owned Federal
    Reserve Bank and its ability to create money out of thin air and loan this
    back to the government and collect interest on it (instead of the government
    just creating the money itself without any interest being due to private
    bankers).
  - Side benefits to the global banking families was a great shake
    out of wealthy Americans and their ability to capture a much larger amount
    of corporate ownership/control than had existed before (using cutouts,
    front men, and corporate control mechanisms established by them).
    
    Add Sticky Note
  - The Rothschild's Illuminati organization was instrumental
    in setting up (thesis) and controlling the French Revolution (antithesis)
    and the rise of Napoleon (synthesis).
  - He in turn was instrumental in reshaping
    the world, and in a massive growth in governmental debt as nations throughout
    Europe borrowed money to arm themselves and fight in the various Napoleonic
    wars.
    
    Add Sticky Note
  - The game of thesis, antithesis, synthesis is played on
    many levels and many such "games" are often ongoing at the same
    time (think of it as multiple interrelated games of space chess).
  - The unchecked
    banking greed and the lack of proper legal controls and governmental oversight
    (thesis) has led to the current nightmare events of major banks and insurance
    companies failing or being bought out or funded by governments (antithesis).
  - The synthesis is that, just in the United States alone, one trillion dollars
    of new public debt has been created in the last week or so to "solve"
    the problems.
  - New debt that enriches the private owners of the Federal
    Reserve System.
  - One trillion dollars of debt, on top of the already massive
    US national debt, that the American public has to pay interest on for many,
    many, years.
  - Of course, the "debt solution" is itself a antithesis
    in a broader game with the synthesis being the New World Order (or a major
    step towards it).
    
    Add Sticky Note
  - The current "solution" to the crisis that the
    FED and the Bush Administration have come up with allows the corrupt gains
    to remain privatized while socializing the losses that Wall Street and
    the global bankers have created.
  - Its all a great evil scam and we, the public, are too
    stupid, too scared, too blind, too wrapped up in television/etc. to be
    educated as to what is really going on.
  - And most importantly, we are simply
    too lacking in good morality to have the strength, the moral strength,
    to fight it.
  - We are being told by the same governmental "leaders"
    that allowed the current economic crisis to happen on their watch, that
    they have fixed the problem with the latest round of new debt and governmental
    slight of hand. Don't believe it for a second.
  - We have just had a little
    more chewing gum and bailing wire slapped on the global economic system,
    but the system is collapsing and adding more national debt, no matter how
    many trillions are involved, will not cure the problem. In fact the cure,
    in this case, is simply more poison for the dying system.
  - All of this has been planned. Do not let yourselves play
    the village fool saying "why did they let this get so out of hand",
    or "you would think that they could come up with something....".
  - The global banking families, whose hands control the levers of political
    and economic power in most nations of the world (and certainly America,
    the United Kingdom, France, etc.), are very intelligent and are playing
    a very sophisticated game ~
  - actually the eco-political grand strategic
    control of the world is the most sophisticated of all games. As FDR use
    to say, "if something happens in politics you can bet that someone
    planned it to happen".
  - They are moving the world to a New World Order in which
    they will have absolute and total control of all wealth and all levers
    of political and military power.
    
    Add Sticky Note
  - To a world that utilizes 21st Century
    technology to enslave the population. To a world that has a large percentage
    of the "unnecessary eaters" purged by the coming next world war.
  - Don't think that such a thing is possible? They organized, bankrolled,
    and created the communists and killed about 80 to 100 million people in
    the former Russian Empire and enslaved the remainder (and added most of
    Eastern Europe after the Second World War) in a communist police state
    using old technology.
  - They bankrolled Hitler and his goons and set up the
    Second World War.
  - They organized the beginning of the First World War;
    Trotsky was the controller of the team that killed the Hapsburg Archduke
    that was the spark that began the war (of course, they had spent years
    funding the military buildup and manipulating events to get Europe "ready"
    for the "Great War").
  - In the United Kingdom there is now one police spy camera
    for every seven citizens; it is impossible to travel down a major roadway
    for any distance without being under computer controlled police observation.
  - The laws passed in the aftermath of 9/11, their organized false flag operation,
    are designed to control the population and to end Americans' God given
    rights that our ancestors fought for.
  - Similar laws have been passed in
    the United Kingdom in the aftermath of the 7/7 false flag operation.
  - Across
    Europe and much of the world, draconian measures have been passed into
    law by national parliaments, all in response to the so-called "war
    on terrorism". All based on lies and the greed of a very small number
    of very powerful people leading the masses into the worst nightmare of
    human history.
  - The fact that so many of the secret ruling elite are
    satanists should not be surprising.
    
    Add Sticky Note
  - Ultimately, where their current End
    Game in the drive for a New World Order is taking us is a place of total
    global destruction.
  - The various 21st Century weapons of mass destruction,
    such as global strategic advanced biowar and global strategic nuclear war
    and scalar war, are not weapons that are survivable for the human race
    in a new world war.
  - When you view the current strategic scenarios in a
    cold analytical light and extrapolate what will happen you can only come
    to the conclusion that the game is a satanic one that the human race cannot
    win,
  - and in fact, seems very similar to the rather strange last book of
    the Christian Bible.
    
    Add Sticky Note
  - Sadly, there is no force, political or otherwise, that
    seems capable of reversing the trend to global economic disaster and global
    war.
    
    Stirling
Bloomberg.com: Treasury Seeks Asset-Buying Power Unchecked By Courts

bloomberg.com/...news - Preview

treasury-secretary henry-paulson congress taxes citizens financial-crisis america banksters gangsters nwo thugs president-bush pelosi obama mccain dictator national-debt on 2008-09-21
- Treasury Seeks Asset-Buying Power Unchecked by Courts (Update2)
- By Alison Fitzgerald and John Brinsley
- 53 more annotations...
- - Sept. 21 (Bloomberg) -- The Bush administration sought
    unchecked power from Congress to buy $700 billion in bad
    mortgage investments from financial companies in what would be
    an unprecedented government intrusion into the markets.
  - Through his plan, Treasury Secretary Henry Paulson aims to
    avert a credit freeze that would bring the financial system and
    the world's largest economy to a standstill.
  - The bill would
    prevent courts from reviewing actions taken under its authority.
    
    Add Sticky Note
  - ``He's asking for a huge amount of power,'' said Nouriel
    Roubini, an economist at New York University. ``He's saying,
    `Trust me, I'm going to do it right if you give me absolute
    control.' This is not a monarchy.''
    
    Add Sticky Note
  - As congressional aides and officials scrutinized the
    proposal, the Treasury late yesterday clarified the types of
    assets it would purchase.
  - Paulson would have authority to buy
    home loans, mortgage-backed securities, commercial mortgage-
    related assets and, after consultation with the Federal Reserve
    chairman, ``other assets, as deemed necessary to effectively
    stabilize financial markets,'' the Treasury said in a statement.
  - The Treasury would also have discretion, after discussions
    with the Fed, to make non-U.S. financial institutions eligible
    under the program.
    
    Add Sticky Note
  - The plan would raise the ceiling on the national debt and
    spend as much as the combined annual budgets of the Departments
    of Defense, Education and Health and Human Services.
  - Paulson is
    asking for the power to hire asset managers and award contracts
    to private companies.
    
    Add Sticky Note
  - Most provisions of the proposal expire
    after two years from the date of enactment.
  - Markets `Fragile'
  - Paulson spent the morning today appearing on the Sunday
    television talk shows to build public support for his plan.
  - He
    urged quick approval by Congress, saying financial markets are
    ``fragile.'' While the plan should have ``mortgage relief
    components,'' he suggested legislative changes should be kept to
    a minimum.
    
    ``We want this to be clean, we want this to be quick,''
    Paulson said on Fox News Sunday.
  - Speaking on NBC's ``Meet the Press, he said: ``This is not
    a position where I like to see the taxpayer, but it is far
    better than the alternative.''
    
    Add Sticky Note
  - He added that assets bought by
    the Treasury would later be sold, recovering some money for the
    government.
  - A failure by the government to support the U.S. financial
    system could lead to ``a depression,'' Senator Charles Schumer,
    a New York Democrat told reporters yesterday. ``To do nothing is
    to risk the kind of economic downturn this country hasn't seen
    in 60 years.''
  - Buyer of Last Resort
  - The Treasury is seeking authority to step in as buyer of
    last resort for mortgage-linked assets that few other financial
    institutions in the world want to buy, following government
    takeovers of mortgage giants Fannie Mae and Freddie Mac and
    insurer American International Group Inc.
  - ``Democrats will work with the administration to ensure
    that our response to events in the financial markets is swift,''
    House Speaker Nancy Pelosi said in a statement.
  - The majority party will seek to reduce mortgage
    foreclosures and create ``fast-track authority'' for an overhaul
    of financial regulation, Pelosi said.
    
    Add Sticky Note
  - Democrats will ensure
    ``the government is accountable to the taxpayers in any future
    actions under this broad grant of authority, implementing strong
    oversight mechanisms.''
    
    Add Sticky Note
  - The proposal will include curbs on executive pay for the
    companies whose assets the government will be buying, Steve
    Adamske, a spokesman for Representative Barney Frank, said
    yesterday in an interview.
  - Preventing Foreclosures
  - Democrats also will include a plan to stem foreclosures,
    which may involve tapping the loan-modification abilities of the
    Federal Housing Administration, the Federal Deposit Insurance
    Corp., and Freddie Mac and Fannie Mae, Adamske said.
  - Frank, a
    Democrat from Massachusetts, is chairman of the House Financial
    Services Committee.
  - Senate Majority Leader Harry Reid said that while he has
    misgivings about the rescue plan, ``the consequences of inaction
    could be catastrophic.''
  - ``While the Bush proposal raises some serious issues, we
    need to resolve them quickly,'' he said yesterday in a
    statement. ``I am confident that, working together, we will.''
  - House minority leader John Boehner, an Ohio Republican,
    said yesterday he is reviewing the proposal but didn't say
    whether he was inclined to support it.
  - ``The American people are furious that we're in this
    situation, and so am I,'' Boehner said in a statement. ``We need
    to do everything possible to protect the taxpayers from the
    consequences of a broken Washington.''
    
    Add Sticky Note
  - Protection for Taxpayers
  - Congress, which may pass legislation as soon as Sept. 26,
    needs to ``make sure there are protections built in for
    taxpayers,'' said Schumer, a New York Democrat on the banking
    committee.
  - Lawmakers should ensure ``taxpayers who gave the
    money will be put ahead of the stockholders, bondholders and
    others.''
  - Yesterday on Capitol Hill, legislative aides wearing polo
    shirts and jeans instead of their usual business suits filed
    into the House Financial Services Committee hearing room to
    question Treasury officials
  - including David Nason, assistant
    secretary for financial institutions, and Neel Kashkari, a
    senior adviser to Paulson and former investment banker at
    Goldman Sachs Group Inc., where the Treasury secretary was
    previously chief executive officer.
  - Paulson is seeking an expansion of federal influence over
    markets that hasn't been seen since the Great Depression, said
    Charles Geisst, author of ``100 Years of Wall Street'' and a
    finance professor at Manhattan College in New York.
  - President George W. Bush said he called leaders in both
    houses of Congress and ``found a common understanding of how
    severe the problem is and how necessary it is to get something
    done quickly.''
  - ``This is going to be a big package because it's a big
    problem,'' Bush said following a meeting with Colombian
    President Alvaro Uribe at the White House. ``We need to get this
    done quickly, and the cleaner the better.''
    
    Add Sticky Note
  - Democratic presidential nominee Barack Obama said in a
    radio address that he ``fully supports'' Paulson and Fed
    Chairman Ben S. Bernanke's efforts to stabilize the financial
    system. The plan, however, should benefit both main street and
    Wall Street, he said.
    
    Add Sticky Note
  - McCain Comments
  - Republican Presidential nominee John McCain ``looks
    forward'' to reviewing the proposal while focusing at least in
    part on ``minimizing the burden on the taxpayer,'' said Jill
    Hazelbaker, communications director for the McCain campaign.
  - The ban on legal challenges of actions by Treasury is
    ``distasteful, it's unfortunate and it's bad precedent, but this
    is an emergency and you have to act,'' said Jerry Markham, a law
    professor at Florida State University and author of ``A
    Financial History of the United States.''
  - ``What you don't want happen is to have lawsuits that will
    slow things down and cause problems,'' he said.
  - The proposal would raise the nation's debt ceiling to
    $11.315 trillion from $10.615 trillion and require the Treasury
    secretary to report back to Congress three months after Treasury
    first uses its new powers, and then semiannually after that.
  - Paulson would gain discretion to act as he ``deems
    necessary'' to hire people, enter into contracts and issue
    regulations related to a revival of U.S. mortgage finance,
    according to a three-page proposal.
  - The Treasury would ``take
    into consideration'' protecting taxpayers and promoting market
    stability.
  - Reverse Auctions
  - The Treasury may hire managers to purchase the assets
    through so-called reverse auctions, seeking the lowest prices,
    Treasury said yesterday.
  - The document specifies that Treasury
    may buy only assets issued or originated on or before Sept. 17.
  - The House will pass legislation to implement the plan by
    the end of this week, and the Senate will act soon after, Frank
    said on Sept. 19 in an interview on Bloomberg Television's
    ``Political Capital with Al Hunt.''
  - Bush said yesterday he's unconcerned that the price tag on
    the package may seem high.
  - ``I'm sure there are some of my friends out there that are
    saying, `I thought this guy was a market guy, what happened to
    him?''' the president said. ``My first instinct was to let the
    market work, until I realized, while being briefed by the
    experts, how significant this problem became.''
  - The Bush administration seeks ``dictatorial power
    unreviewable by the third branch of government, the courts, to
    try to resolve the crisis,'' said Frank Razzano, a former
    assistant chief trial attorney at the Securities and Exchange
    Commission now at Pepper Hamilton LLP in Washington. ``We are
    taking a huge leap of faith.''
    
    Add Sticky Note
  - To contact the reporter on this story:
    Alison Fitzgerald in Washingtont ;
    John Brinsley in Washington at
    jbrinsley@bloomberg.net
Page 2: Financial crisis: Default by the US government is no longer unthinkable - Telegraph

And this is why I think it more than curious that the 1 BCT of the 3rd ID, stationed at Ft Stewart, Georgia, has been put under North Com beginning Oct 1, 2008 for training and standby in case of natural disasters and "other" events. It looks to me that actual martial law, if not covertly being implemented by Oct 1, is at least being prepared in light of what is about to happen to the American people, courtesy of the criminal bastards running the government and their Bankster-Gangster thug friends.

www.telegraph.co.uk/...main.jhtml - Preview

treasury-department henry-paulson bail-out banks wall-street default us-government t-bills worthless money dollars nwo on 2008-09-21 and saved by 2 people
- Financial crisis: Default by the US government is no longer unthinkable
- By Liam Halligan
  Last Updated: 11:48am BST 21/09/2008
  Page 2 of 2
- 6 more annotations...
- - But, in the run-up to the US election in November, Democrats in
    Congress - and even some Republicans - may decide they're
    simply not having it.
  - How much more can the US taxpayer take?
  - It
    sounds insane, but the liabilities being taken on by the Fed and the
    US Treasury are now so enormous that the government itself could
    default. No?
  - How fragile we are: Chickens may yet come home to
    roost for the US government
    Check out the chart showing the recent spikes in the US 10-year
    credit default swap. In other words, the market is now pricing-in
    the genuine possibility that the US will struggle to pay-back some
    of its long-term T-bills.
  - That possibility is still deemed to be quite low. But the ultimate
    financial question - until recently, unthinkable - is now being
    asked.
  - Yes siree, the mighty US government could default.
    That's how much the world has changed.
Page 1: Financial crisis: Default by the US government is no longer unthinkable - Telegraph

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banks aig lehman-brothers wall-street henry-paulson debt main-street usa uk treasury-department us-government subprime loans mortgages foreign-banks on 2008-09-21 and saved by 3 people
- Financial crisis: Default by the US government is no longer unthinkable
- By Liam Halligan
  Last Updated: 11:48am BST 21/09/2008
  Page 1 of 2
- 28 more annotations...
- - So, here we are - the start of a new world order.
  - After the
    tumultuous events of the last fortnight, the global economic
    landscape will never look the same again.
  - Power has tangibly shifted - away from the United States and the
    Western world generally, and towards the fast-growing giants of the
    East. That's been happening for some years now.
  - But September 2008 marks the moment when the scale of our
    excesses, the extent of our debts and the moral bankruptcy of our
    financial regulatory system finally began to be truly exposed.
  - Hard times: central banks have acted to avoid a
    repeat of 1929
  - I say began to be exposed. Back in March, Standard and
    Poor's, the US ratings agency, estimated some $285bn (£156bn)
    of mortgage-backed securities would eventually be written-off by the
    global banking sector. On Friday, almost unnoticed amid the panic,
    that forecast was upped to $378bn.
  - In reality, total credit losses will be much higher - at least
    $750bn in my view.
  - But the extent of the 33 per cent one-off
    increase in S&P's estimate speaks volumes. It reflects just
    how little anyone truly knows about either the ultimate size of the
    sub-prime losses or who ultimately holds the related securities.
  - But with one in ten US mortgages now "delinquent" or
    "in foreclosure", and house prices still falling, such
    "toxic waste" is burning holes in balance sheets wherever
    it sits. That's why this crisis is far from over.
  - It's difficult to overstate the enormity of what happened
    last week.
  - By any standard, the collapse of Lehman Brothers was a
    dramatic - and alarming event.
  - One of the biggest names on Wall
    Street, the 158-year old bank was consumed by the scale of its
    losses and crippled by executive feuds. Deemed by the US Federal
    Reserve to be "sufficiently unconnected" to the rest of
    the global financial system, Lehman was allowed to fold.
  - In contrast, American International Group, the world's
    largest insurer, was judged "too interconnected" to
    collapse.
  - So the Fed effectively "nationalised" AIG - the
    biggest rescue of a private firm in human history.
  - And it's
    only a few weeks, of course, since the even more expensive bail-out
    of quasi-government lenders Fannie Mae and Freddie Mac - which,
    between them, account for a mind-boggling $5,300bn of mortgages,
    around half of America's home loans.
  - On top of all that, US Treasury Secretary Hank Paulson sent an
    $800bn financial rescue plan to Congress. He wants to create a
    second "Resolution Trust Corporation" - or
    government-owned asset management company -
  - to take on illiquid
    mortgage-related debts. The original RTC was established to rescue
    the US Savings and Loans Associations that went bust in the 1980s.
  - And by the way, the Fed has also just offered another $125bn of
    liquidity to banks outside the US that are desperate for dollars and
    can't access America's frozen credit markets - a move
    co-ordinated with central banks in Japan, the Eurozone, Switzerland,
    Canada and here in the UK.
  - The combination of these measures - each of them of enormous
    significance in its own right - sent stock markets shooting-up on
    Friday.
  - America's S&P 500 rose 4.03 per cent and
    London's FTSE 100 soared 8.84 per cent, its largest one-day
    rise ever.
  - But, despite the end-of-week euphoria and trader-talk
    that "the only way is up", despite America's
    undoubted resolve and Paulson's determination to do
    "whatever it takes", the situation remains very fragile.
  - Nothing better reflects the amount of fear among banks in America
    - banks everywhere - than the sky-high rates they're continuing
    to charge when lending to each other.
  - Ordinarily, inter-bank (or
    Libor) interest rates are only slightly above base rates. But with
    so much uncertainty remaining about the scale and occurrence of
    "sub-prime" - and with desperate bank executives still so
    reluctant to "fess-up" their losses - the US Libor rate on
    money to be paid back in three months is now a staggering 1.5 per
    cent above base. In recent weeks, Libor rates have shot up in other
    countries too.
  - Paulson's latest liquidity injection has lowered over-night
    Libor rates for now. But, despite the torrent of cash the US has
    directed at the credit markets, longer-term inter-bank rates have
    stayed stubbornly high, and some have gone up further.
  - In other
    words, even the banks themselves don't think the rescue plan
    will work.
  - Expect more - and bigger - liquidity operations in weeks
    to come.
  - The trouble is, though, as the bill for these bail-outs keeps
    rising, so does the possibility that the political consensus will
    crack and there'll be an almighty, and debilitating, dust-up.
  - Paulson's RTC plan, in theory, could restore confidence. By
    taking sub-prime loans off banks' books, it could de-ice the
    inter-bank market, restoring credit lines to households and firms
    and preventing the "credit crunch" from shifting
    wholesale, in that fabled phrase, "from Wall Street to Main Street".
Half a Trillion Bailout For The Creators of the Market Crisis - The International Forecaster

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bob-chapman international-forecaster illuminati banksters government dollar bailouts paulson federal-reserve bernanke politicians ceo socialism corporatism fascism nwo usa on 2008-09-22
- Half a Trillion Bailout For The Creators of the Market Crisis
- September 21 2008
- 75 more annotations...
- - US Mortgage bailout at half a trillion, Loss of confidence means end of credibility in the markets. Phony wars, phony values in real estate will cost all of you, financial companies bought out, power consolidated in financial markets, Gold on the rise, stock markets as volatile as a drunken sailor, why are the markets rallying after the big bailout
  - We recoil in disgust at the way these arrogant sociopaths, the henchmen of the Illuminati at the Fed and in our Treasury Department, led by Bernanke and Paulson, respectively, are taking the toxic waste losses of the Wall Street fraudsters and dumping them on the taxpayer sheople,
  - while short-squeezing savvy investors by selectively prohibiting and prosecuting shorts of any kind for the stocks of about 800 financial institutions through early October, which all deserve to be shorted.
  - Between the Byzantine dollar rally, the Saudi crude oil assassination, the peppering of precious metals by pernicious paper-hangers (wasn't Adolf Hitler a paper-hanger at one time?) and the short-squeeze on financials, we wonder how many more hedge funds are going to go under, and take everyone else with them in the process,
  - as Lehman gets cannibalized just in time to rack up mark-to-market losses for the sheople to eat in the latest bailout bonanza for the fraudsters, soon to be revealed as the Resolution Trust Company II solution?
  - Bailing out the toxic mortgages found among the half of US real estate mortgages held or guaranteed by Phonie and Fraudie, some 5+ trillion worth, was not enough for them. Now, they want to pawn the rest of the toxins from the other half of US mortgages, which they estimate will be about a half a trillion.
  - Gee, didn't they tell us the Iran War would cost 60 to 200 billion, only to find out later that when you add in future costs for veteran's disabilities and pensions, the cost could top 3 trillion?
  - And didn't Bernanke tell us that the fallout from the subprime situation was contained?
  - Of course, that was before we saw fraudsters around the world eat $350 billion and counting.
  - And didn't all the fraudster CEO's keep telling us that their walking dead zombie companies were sound and liquid right up to the time that their shareholders got vaporized?
  - Can we trust even a single word spoken by anyone from Wall Street, the Fed or our "beloved" Treasury Department anymore?
  - Aren't you starting to get a little tired of all the lies?
    
    Add Sticky Note
  - The Street, the Fed and our government now have ZERO credibility. This loss of confidence is going to take the markets down no matter what these reprobate and sociopath elitists do.
  - You will eat multiple trillions of dollars from each of the following:
  - (1) The phony War on Terror;
  - (2) the loss in real estate values caused by record inventories that will be created by defaults and foreclosures resulting from rampant unemployment, loan fraud, over-leveraged consumers and ARM and Option ARM resets;
  - (3) the combined bailout of Fannie's and Freddie's share of the toxic waste contained in the approximately half of all US mortgages which these cess pools have made or insured, plus the losses from the Resolution Trust Company II bailout of the toxic waste from the remaining half of US mortgages;
  - (4) the shortage in the FDIC's insurance reserves that will be generated by losses incurred on account of what will be anywhere from 1,000 bank failures, as suggested by billionaire Wilber Ross, to perhaps as many as half of all banks in the US, as recently suggested by Ken Lewis, CEO of Bank of America;
    
    Add Sticky Note
  - (5) the PBGC's funding shortage to cover losses suffered by pension plan beneficiaries on account of pension under-funding caused by what will be the loss of as much as half of the value of all US equity shares;
  - (6) the bailouts likely to occur when the credit default swaps and interest rate swaps, along with the entire bond market, go under in what will be the greatest bear market of all time in both bonds and derivatives, which are guaranteed to occur based on the hyperinflation that will be caused by all the other bailouts just listed, as well as by our continually burgeoning budget and trade deficits, the resulting double digit interest rates which will become necessary in order to combat inflation and to properly reward risks, which are about to escalate in astronomical fashion, and to attract foreign investment, which will soon drop to nil based on negative rates of return;
  - (7) the loss in purchasing power due to hyperinflation generated by 1 through 6 above;
  - and (8) the new wars for profit that will be started in order to restart our vaporized economy in the wake of the death and destruction caused by 1 through 7, above,
  - and you can also add in the costs associated with potential social unrest and revolution that are almost certain to occur.
    
    Add Sticky Note
  - When number 6 above comes to fruition, the entire world economy will implode and go into deep depression. None will escape the coming juggernaut of losses when the glowing, quadrillion dollar Derivative Death-Star goes supernova.
  - The entire world economy will get sucked into the resulting financial black hole.
  - The Resolution Trust Company II will be rammed down the throats of Congress, just like (1) the Federal Reserve Act that has been used to inflate the middle class out of its wealth by imposing a stealth tax which is used to fund profligate government spending and enrich private banker's with their debt-based fractional reserve system of banking;
  - (2) the passage of the US Income Tax, which is used to enslave and impoverish US citizens and to ensure payment of the US Treasury's debt to the Federal Reserve on its treasury paper;
  - (3) the repeal of the Glass-Steagall Act by the Gramm, Leach, Bliley Act, which is what paved the way for the speculation, fraud and conflicts of interest that always arise when commercial banks and investment banks are allowed to be merged under one entity, as we just saw happen with Bank of America when it bought out Merrill Lynch, and this poisonous piece of legislation is what allowed the Illuminist bankers to pawn off the toxic waste which their investment banking division created for its investment banking clients, after getting fraudulent AAA ratings from the ratings agencies, on their hapless, sucker-dupe commercial banking clients;
  - (4) the passage of the toxic Commodity Futures Modernization Act, which freed the then fledgling OTC derivatives market, including credit default swaps and interest rate swaps, from the regulatory power of both the SEC or the CFTC, leading to an out-of-control, unregulated, under-collateralized, quadrillion dollar volcano of smoldering, molten risk that no one understands in terms of its scope, its interrelationships and its counterparty risks, and now these financial weapons of mass destruction threaten the worldwide financial system;
  - (5) the passage of the Iran War resolution based on Bush Administration lies regarding Saddam Hussein's supposed weapons of mass destruction and involvement in 911, which has led us into yet another bloody war for profit under the guise of security, democracy and freedom, and which has resulted in the killing of millions of Iraqi civilians and thousands of our soldiers (move over Hitler, Mao and Stalin, the Illuminati and their neocon henchmen are just getting warmed up as they take their shenanigans to the Balkans);
  - (6) the approval of both Patriot Acts to help us fight the evil Osama Bin Laden and the phony "War on Terror" while dismantling our Constitutional rights;
  - (7) the approval of the Military Commissions Act which makes all dissenters into "enemy combatants" and takes away their right to habeas corpus;
  - (8) the passage of the John W. Warner Defense Authorization Act of 2006, which repeals Posse Comitatus, meaning that our military forces can now be used against our own citizens for the first time in our history, and contrary to our Constitution;
    
    Add Sticky Note
  - and (9) the Fannie and Freddie bailout, which was just authorized so the fraudsters can dump their slime on taxpayers in a futile attempt to save their precious system of Ponzi-schemes and insider trading which is becoming unraveled right before their eyes.
  - This is why all incumbents, except for Ron Paul, must be voted out in November.
    
    Add Sticky Note
  - The House Finance Committee, headed by Rep. Barney Frank, and the Senate Finance Committee, headed by Sen. Christopher Dodd, will give it their usual Boo-Boo, response: "I don't know, Yogi," in order to give the clueless sheople the appearance that they are going to protect taxpayers from the slimy bankers, when the reality is, it is already a done deal and has been planned long in advance, probably for many months, if not years, just like the Patriot Acts.
  - What you are seeing happen right before your eyes is the revenge of the Illuminati for the passage of the Glass-Steagall Act.
  - Not only have they repealed that act, but now they have reverted our system back to the way it was when the Stock Market Crash of 1929 occurred.
  - This is why Bank of America jumped all over Merrill Lynch, and why you are hearing continual overtures for Goldman Sachs and Morgan Stanley to do the same, with claims that their business models are flawed.
  - The fane-stream media now tells us that we need such combinations to give our financial institutions greater strength and staying power in the face of a crisis, when it is such combinations that are responsible for creating the crisis in the first place.
  - This is the classic Hegelian Dialectic on steroids: first create the crisis, and then propose the predetermined solutions, stuffing them down everyone's throats, if necessary.
  - If you want to see institutions that will automatically be deemed to be too big to fail the next time they defraud the public, just check out the gargantuan financial behemoths that will emerge out of the current crisis!
  - First, all the legislation was put into place.
  - Note how this was all set up.
  - Then the system is brought into a crisis situation, which was easily accomplished through deregulation, in order to propel us into a situation where the Illuminists are allowed to consolidate their power with the full blessing of the dopey sheople.
  - Note how Bear Stearns was assassinated just before the Fed opened up its Primary Dealer Credit Facility and its Term Securities Lending Facility, which could have saved BS.
  - They arranged to have BS's clients abandon them and withdrew BS liquidity and credit, and down they went, payback for not helping in the LTCM bailout and for not joining the Illuminist club.
  - Then they string out all the other big commercial and investment banks, to see which ones would turn out to be the keepers, because the carnage was so bad and so widely spread that no one could tell which of the big commercial and investment banks might survive, if any.
  - They needed time to figure out who the survivors would be. Hence, all the desperate bailouts dripping with moral hazard were made to keep them all afloat while they were attempting to make this determination.
  - They decide to let Lehman fail because their condition is irredeemable and it looks like criminal charges may come up at some point due to shenanigans that management committed against their employee's pension money, making them a hot potato.
  - They pair up Bank of America with Merrill Lynch, and we see JP Morgan Chase and possibly Wachovia pairing up with Goldman Sachs and Morgan Stanley, respectively.
  - AIG is being preserved to see if they can be fit into the consolidation scheme once all their problems have been sorted out.
  - Wachovia and Morgan Stanley are already in talks for a merger.
  - To support the survivors, they then announce the Resolution Trust Company II bailout, kill all shorting of over 800 financial companies, and then spew out money and credit throughout the international banking system in amounts that are nothing short of spectacular.
  - This is an outrageous, unbelievable, unprecedented consolidation of power, which flies in the face of free markets and paves the way for an ever-burgeoning corporatist, fascist police state.
    
    Add Sticky Note
  - Hanky Panky wants to give the Fed sweeping regulatory power over this new group of behemoths who will control everything, while occasionally allowing crumbs to fall off their table for the little guys to gobble up.
  - And there will be far fewer of the little guys to worry about after the carnage in the banking sector has finally ceased.
  - This is not a sure thing for them. The fraudsters remaining, even the big guys, could still fail, that is how bad this situation has become.
  - The Illuminati are quaking with terror that they have overdone things and that they could end up destroying the whole system irreparably. That is why we are having all these bailouts stuffed down our throats.
    
    Add Sticky Note
  - Gold and silver went on a moon shot this week, with gold setting a new all-time record for a one-day increase in value. That is what happens when you keep pressing on the lid of a pressure cooker, trying to keep boiling, molten precious metals from escaping.
  - Aiding gold and silver was the unraveling of longs in the USDX futures market, who were forced to cover because they had pushed the dollar up as far as it could go.
  - Suddenly, the 93,701 contracts of open interest on Tuesday were reduced to 52,872, being cut virtually in half. That means the dollar rally is over and the ever more desperate bailouts are going to undermine confidence in the dollar.
  - Soon, all these trillions in bailouts may lead to a downgrade of our treasuries, as our debt load will soon reach unsustainable levels, no matter how much the PPT tries to manipulate the markets. The stupidest dolt should be able to figure out that much.
  - The stock markets are shooting up and down with unprecedented volatility, bobbing and weaving like a drunken sailor as the PPT tries to fight the gravity created by the financial black hole created by the collapse of the Bailout Death-Star and the total lack of confidence of market players who are finally starting to realize that CEO's, Treasury Secretaries and Fed Chairmen are little more than pathological liars, and that the markets are rigged in ways that make China and Russia green with envy.
  - Look at the condition of the Russian and Chinese stock markets, which are being vaporized, compared to ours, which has been placed in a state of suspended animation by the PPT anti-gravity machine.
    
    Add Sticky Note
  - Hey Russia, and China, take some notes. We'll show you what it means to be a died-in-the-wool Marxist/Communist state!
  - Remember, the satanic trillionaires that run our command economy from behind the scenes are the ones who set you up and financed you. They are the true masters of Communism and Marxism! You guys are amateurs!!!
    
    Add Sticky Note
  - And we lead by example, so pay attention.
  - Do you really think the markets are rallying because everyone is impressed with the new string of bailouts? All the pros know where this is leading us, and they are de-leveraging.
  - If you want to know why the markets are rallying, besides tens of billions of dollars being unleashed from the repo pool for insidious and in-your-face manipulations, check out the yen.
  - At 9 am on the 16th, it was super yen, at 103.650 yen per dollar and 147.592 yen per euro. Now suddenly, despite the dollar crash, the yen has wimped out, and as of 2:25 pm on Friday, it stood at 107.065 against the dollar, and at 154.653 against the euro. Rally mystery solved. Let's get ready to rumble!!!
  - The members of Pink Floyd become prophets for America. Thanks to all the Illuminist lies the sheople have been injected with, the Goldilocks Matrix remains in tact. Yes indeed, you have all become "comfortably numb.
  - "O.K.
    Just a little pinprick.
    
    There'll be no more aaaaaaaaah! But you may feel a little sick.
    Can you stand up? I do believe it's working, good. That'll keep you going through the show
    
    Come on it's time to go.
    
    There is no pain you are receding
    
    A distant ship, smoke on the horizon.
    
    You are only coming through in waves.
    
    Your lips move but I can't hear what you're saying.
    
    When I was a child
    
    I caught a fleeting glimpse
    
    Out of the corner of my eye.
    
    I turned to look but it was gone
    
    I cannot put my finger on it now
    
    The child is grown,
    
    The dream is gone.
    
    I have become comfortably numb."
    
    Group: Pink Floyd; Album: The Wall; Song: Comfortably Numb
  - We hope and pray that the dream is not yet gone, and that Americans get a fleeting glimpse of our former glory and greatness, and that they wake up and stop allowing these scum-bags to have their way with them.
    
    Add Sticky Note
  - RIP Richard Wright
Paulson Bailout Plan a Historic Swindle

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tax-payers usa treasury-secretary paulson jew crook swindler americans congress banksters white-house wall-street citizens scam on 2008-09-22 and saved by 8 people
- Paulson Bailout Plan a Historic Swindle
- By William Greider
  
  September 19, 2008
- 33 more annotations...
- - Financial-market wise guys, who had been seized with fear, are suddenly
    drunk with hope. They are rallying explosively because they think they
    have successfully stampeded Washington into accepting the Wall Street
    Journal solution to the crisis: dump it all on the taxpayers.
  - That
    is the meaning of the massive bailout Treasury Secretary Henry Paulson
    has shopped around Congress.
  - It would relieve the major banks and
    investment firms of their mountainous rotten assets and make the public
    swallow their losses--many hundreds of billions, maybe much more. What's
    not to like if you are a financial titan threatened with extinction?
  - If Wall Street gets away with this, it will represent an historic
    swindle of the American public--all sugar for the villains, lasting pain
    and damage for the victims.
  - My advice to Washington politicians: Stop,
    take a deep breath and examine what you are being told to do by
    so-called "responsible opinion."
  - If this deal succeeds, I predict it
    will become a transforming event in American politics--exposing the deep
    deformities in our democracy and launching a tidal wave of righteous
    anger and popular rebellion.
    
    Add Sticky Note
  - As I have been saying for several months,
    this crisis has the potential to bring down one or both political
    parties, take your choice.
    
    Add Sticky Note
  - Christopher Whalen of Institutional Risk Analytics, a brave conservative
    critic, put it plainly: "The joyous reception from Congressional
    Democrats to Paulson's latest massive bailout proposal smells an awful
    lot like yet another corporatist lovefest between Washington's one-party
    government and the Sell Side investment banks."
  - A kindred critic, Josh Rosner of Graham Fisher in New York, defined the
    sponsors of this stampede to action: "Let us be clear, it is not citizen
    groups, private investors, equity investors or institutional investors
    broadly who are calling for this government purchase fund. It is almost
    exclusively being lobbied for by precisely those institutions that
    believed they were 'smarter than the rest of us,' institutions who need
    to get those assets off their balance sheet at an inflated value lest
    they be at risk of large losses or worse."
  - Let me be clear. The scandal is not that government is acting. The
    scandal is that government is not acting forcefully enough--using its
    ultimate emergency powers to take full control of the financial system
    and impose order on banks, firms and markets.
  - Stop the music, so to
    speak, instead of allowing individual financiers and traders to take
    opportunistic moves to save themselves at the expense of the system.
  - The
    step-by-step rescues that the Federal Reserve and Treasury have executed
    to date have failed utterly to reverse the flight of investors and banks
    worldwide from lending or buying in doubtful times.
  - There is no obvious
    reason to assume this bailout proposal will change their minds, though
    it will certainly feel good to the financial houses that get to dump
    their bad paper on the government.
  - A serious intervention in which Washington takes charge would, first,
    require a new central authority to supervise the financial institutions
    and compel them to support the government's actions to stabilize the
    system.
  - Government can apply killer leverage to the financial
    players: accept our objectives and follow our instructions or you are
    left on your own--cut off from government lending spigots and ineligible
    for any direct assistance.
  - If they decline to cooperate, the money guys
    are stuck with their own mess.
  - If they resist the government's orders to
    keep lending to the real economy of producers and consumers, banks and
    brokers will be effectively isolated, therefore doomed.
  - Only with these conditions, and some others, should the federal
    government be willing to take ownership--temporarily--of the rotten
    financial assets that are dragging down funds, banks and brokerages.
  - Paulson and the Federal Reserve are trying to replay the bailout
    approach used in the 1980s for the savings and loan crisis, but this
    situation is utterly different.
  - The failed S&Ls held real
    assets--property, houses, shopping centers--that could be readily resold
    by the Resolution Trust Corporation at bargain prices.
  - This crisis
    involves ethereal financial instruments of unknowable value--not just
    the notorious mortgage securities but various derivative contracts and
    other esoteric deals that may be virtually worthless.
  - Despite what the pols in Washington think, the RTC bailout was also a
    Wall Street scandal. Many of the financial firms that had financed the
    S&L industry's reckless lending got to buy back the same properties
    for pennies from the RTC--profiting on the upside, then again on the
    downside.
  - Guess who picked up the tab? I suspect Wall Street is
    envisioning a similar bonanza--the chance to harvest new profit from
    their own fraud and criminal irresponsibility.
  - Call off their lobbyists,
    bar them from the bribery disguised as campaign contributions. Any
    contact or conversations between the assisted bankers and financial
    houses with government agencies or elected politicians must be promptly
    reported to the public, just as regulated industries are required to do
    when they call on government regulars.
  - More important, if the taxpayers are compelled to refinance the villains
    in this drama, then Americans at large are entitled to equivalent
    treatment in their crisis.
  - That means the suspension of home
    foreclosures and personal bankruptcies for debt-soaked families during
    the duration of this crisis.
  - The debtors will not escape injury and
    loss--their situation is too dire--but they deserve equal protection
    from government, the chance to work out things gradually over some years
    on reasonable terms.
  - We don't know how much damage has been
    done to economic growth or how long the cold spell will last, but I
    don't trust the bankers in the meantime to provide investment capital
    and credit. If necessary, Washington has to fill that role, too.
  - Finally, the crisis is global, obviously, and requires concerted global
    action.
  - Robert A. Johnson, a veteran of global finance now working with
    the Campaign for America's
    Future, suggests that our global trading partners may recognize the
    need for self-interested cooperation and can negotiate temporary--maybe
    permanent--reforms to balance the trading system and keep it
    functioning, while leading nations work to put the global financial
    system back in business.
  - We have a brain-dead lame duck in the
    White House.
    
    Add Sticky Note
  - The agenda is staggering. The United States is ill equipped to deal with
    it smartly, not to mention wisely.
  - The two presidential candidates are trapped by events,
    trying to say something relevant without getting blamed for the
    disaster. The people should make themselves heard in Washington, even if
    only to share their outrage.
Who Will Speak For Us?

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jim-kirwan henry-paulson treasury-department us-government congress crooks aipac criminals politicians bernanke george-bush tax-payers debt tyrants jews foreign-agents neocons nwo on 2008-09-22
- Who Will Speak For Us?
- Jim Kirwan
  
  9-21-8
- 37 more annotations...
- - The short answer is "no one" because we have
    chosen to abstain from speaking for ourselves.
  - As a result; the government
    no longer fears the people; so the people having chosen not to have a
    voice, are increasingly used and abused to further the takeover that has
    now become impossible to escape.
  - The government is saying among themselves, that this
    meltdown will encompass credit cards, student loans, all the pension funds,
    social security and virtually everything else including our non- existent
    jobs programs-not to mention the fact that we're looking at real job loses
    this year of over a million people.
  - This is part of their defense for
    saddling the public with more than $11 TRILLION in debt, without any relief
    for the public that is expected to pay for this obscene crime.
  - When Ronald Reagan initiated the idea of "Morning
    in America" people had forgotten that he came to office from a failed
    governorship in California and from his stint on "Death Valley Days"
    both of which had more to do with his policies than anything like his
    vision of America as that "Shining City on the Hill."
  - What Reagan
    instituted was "Greed is Good" and 'Americans ought to have
    whatever they want, no money down, and to hell with tomorrow,' (the core
    of that un-checked capitalism that created the housing-bubble).
  - One of the unspoken principle planks in the platform
    of Capitalism Inc. is that 'Yes there is a free-lunch, and that every
    citizen is entitled to it"!
  - The second plank in un-regulated Capitalism
    is that congress and the laws are meaningless.
  - And as the decades have
    passed what we see now where the congress used to be, is just a privileged
    compound apart from the public's real concerns, where a bunch of toothless
    mongrels prowl in luxury among themselves and bark incessantly at the
    shadows in the world, well beneath their lavish perks.
    
    Add Sticky Note
  - Now we come to a crisis the like of which the world has
    never seen before: Because this global event has dwarfed all other previous
    financial and political events, since those dark days when public records
    first began to be kept.
  - The stand-in theorhetorically responsible for
    the Treasury who appeared this morning to be in the middle of a series
    of heart-attacks, keeps trying to tell the public that "We MUST do
    this quickly," despite the fact that he has no real numbers as to
    cost or duration!
    
    Add Sticky Note
  - He has also assured the nation that there should be
    nothing in this for the taxpayers, those individuals who are expected
    to pay for these failures.
  - From Paulson we also learned that both parties plan to
    remain bi- partisan (no opposition from within the government), regarding
    this draconian step.
  - Paulson freely admits that there are many components
    to this massive failure brought on by several privately-held corporate
    and offshore interests that have FAILED, yet he sees his measure as the
    only way out of this global mess.
  - People might have forgotten that the entire premise for
    private- enterprise rests upon the risks that the so-called privatized-
    interests take, which include the right to fail, in order to remain free
    to profit hugely!
  - The right to FAIL is part of their sacred circle of rights
    that no one else can have-that is until they fail-bigtime-because then
    as now those same private companies then demand a bailout by none other
    than the public they so vastly screwed in the first place!
    
    Add Sticky Note
  - To cap this
    all off, now the government is telling the public that we have no choice
    but to capitulate to these obscene demands-this is governance at the point
    of a gun,
  - and this demands that we change the government according to
    the ideas laid out in the Declaration of Independence, which says in part:
    
    "We hold these truths to be self-evident, that all
    men are created equal; that they are endowed by their Creator with certain
    inalienable rights; that among these are life, liberty and the pursuit
    of happiness. That to secure these rights governments are instituted among
    men, deriving their just powers from the consent of the governed; that,
    whenever any form of government becomes destructive of these ends, it
    is the right of the people to alter or abolish it. . ."
  - This so-called government in Washington no longer represents
    the people of this land,
    
    Add Sticky Note
  - they only represent the corporations and the
    global interests of the ancient New World Order that seek to enslave
    Americans along with everyone else.
    
    Add Sticky Note
  - In this case the idea is to create
    a fire-sale out of a once thriving economy in order to buy up what's left
    of this country at bargain prices, before they declare themselves the
    sole owners of the world.
  - The second amendment was placed in the Constitution
    in order for the public to have the means to form militias that could
    take back the nation, if that ever became necessary.
  - Apparently the time
    has come for the public to begin to give more than idle thought to this
    crisis that threatens to literally remake the entire structure of this
    nation and the world.
  - If the congress cannot put monetary and legal limits
    on this legislation, and if the congress and the White House are allowed
    to pass something that does not insure the survival of the general public
    which they shall have so freely and unconditionally taxed beyond all bounds
    of sanity: then we must have a revolution in the streets!
    
    Add Sticky Note
  - The government needs to come again, to fear the public,
    because they have proven beyond all doubt that they are unfit to lead
    anyone anywhere, ever again!
  - Their list of on-the-record failures is
    staggering, and to any sentient being it is "unbelievable" even
    before they have added this final insult to the pending total collapse!
    "Capitalism must be checked, and leashed forever, so that these crimes
    can never-again be repeated in the public's name.
  - The laws on the books must be enforced, and everyone
    involved in creating this hijacking must have everything they own confiscated
    and go to jail at the very least: because to do less would be to encourage
    these new-old Robber-Barons to continue with business as usual.
  - Please remember: What is at stake is EVERYTHING monetary,
    all pensions, retirement funds, social security, credit cards, bank loans
    of any kind, not to mention the total lack of any funds for legitimate
    business costs or expansions-the jobs don't matter because they're gone
    already!
  - No person with a hyphenated nationality ought to be allowed
    to hold any high office in this nation:
  - Offshore-anything must be heavily taxed or forbidden
    outright.
  - at the very least our representative
    offices must be reserved for Americans only:
  - and all foreign interest
    groups must be registered as such including AIPAC;
  - that way whatever they
    do can be traced back to those who are directing their actions and their
    influence will at least be on-the- record.
  - The choice is simple, we must clean house because virtually
    everything that has been running everything, at the highest levels, is
    corrupt!
  - If we can't do this, then we shall become the slaves that those
    on top, have now decided, that we should be!
  - So either we find our long
    unused voices and our bodies to demand an end to all of this, or we shall
    set precedent, by caving in to tyranny at the point of those guns that
    we gave them with our long-held silence about everything they have done;
    both to us and to the rest of the planet!
  - kirwanstudios@sbcglobal.net
    
    BACKGROUND:
Glenn Greenwald -Growing Right-Wing Opposition to the Paulson Plan

www.salon.com/greenwald - Preview

henry-paulson treasury-secretary bailouts elite banksters wall-street 700-billion tax-payers americans congress robbery looting aig jews us-government on 2008-09-22 and saved by 41 people
- Monday Sept. 22, 2008 07:47 EDT
- Growing right-wing opposition to the Paulson plan
- 50 more annotations...
- - (updated below - Update II)
  - On Saturday morning, I noted -- quoting Atrios -- the almost complete lack of debate over the ever-changing dictates issued by Treasury Secretary Hank Paulson.
  - Last week, whatever Paulson said on any given day -- no bailouts; only selected bailouts; massive $700 billion bailout plan -- immediately became the unchallenged conventional wisdom.
  - That has all changed. Prominent economists, who had previously been defending Paulson for the most part, began voicing serious doubts about his plan.
  - As the AP put it yesterday: "Many of the same economists and opinion-makers who'd provided a bipartisan sheen of consensus to Treasury Secretary Henry Paulson's previous moves have quickly begun casting doubts on the wisdom of a policy that would allow Treasury to purchase without oversight hundreds of billions of dollars of difficult-to-price assets from financial institutions."
  - Not only Paul Krugman, who was a skeptic from the start, but conservative economic experts have also now expressed opposition, including former Bush and Romney advisor Greg Mankiw and -
  - in an excellent column on Saturday -- Sebastian Mallaby, who described the rapid move to embrace Paulson's plan as "extremely dangerous."
  - And now, some of the most rabid ideologues on the Right are voicing increasingly strident opposition as well.
  - At National Review last night, Newt Gingrich wrote that "watching Washington rush to throw taxpayer money at Wall Street has been sobering and a little frightening" and said he "hopes Congress will slow down and have an open debate."
  - Thereafter, NR's Yuval Levin proclaimed that nobody could read through the Paulson proposal "without concluding that everyone in Washington has lost their minds."
    
    Add Sticky Note
  - In The New York Times today, Bill Kristol said he's "doubtful that the only thing standing between us and a financial panic is for Congress to sign this week, on behalf of the American taxpayer, a $700 billion check over to the Treasury," while Michelle Malkin posted a lengthy alarmist screed warning that "Hank Paulson must be contained."
  - Right-wing opposition to the Paulson plan is vital for having any meaningful chance to stop it.
  - Does anyone have any confidence at all in the Democrats' willingness and/or ability to impede this bailout train if the Bush administration and the Right were vigorously behind it,
  - warning the nation of impending doom unless we submit to vast, unchecked government power of the type Henry Paulson is demanding?
  - The instances of complete Democratic acquiescence under those circumstances -- including when they "controlled" the Congress -- are far too numerous to allow any rational person to think Democrats, standing alone, would stop the Paulson plan. As sad as it is, meaningful right-wing opposition is critical for that to happen.
  - More interesting are the reasons why these right-wing polemicists have decided they have real doubts about the wisdom of the Paulson plan.
  - In opposing the plan, each of them cited -- with alarm -- the provision which vests full, unfettered and unreviewable discretion in the Treasury Secretary to determine how the $700,000,000,000 is allocated:
  - Levin (plan gives "essentially unlimited power to use $700 billion to make purchases the scope of which is defined very loosely and vaguely");
  - Gingrich ("We are being reassured that we can trust Secretary Paulson 'because he knows what he is doing'. Congress had better ask a lot of questions before it shifts this much burden to the taxpayer and shifts this much power to a Washington bureaucracy");
  - Kristol ("There are no provisions for — or even promises of — disclosure, accountability or transparency");
  - Malkin (Washington is demanding we "fork over $700 billion to Treasury Secretary Henry Paulson and allow him to dole it out to whomever he chooses in whatever amount he chooses -- without public input or recourse").
  - Apparently, the same political faction that has cheered on every instance of unchecked, absolute executive power over the last eight years -- which demanded that the President, and he alone, decide which citizens, including Americans, can be spied on, detained, even tortured, and that no oversight or disclosure was needed for any of that -- has suddenly re-discovered their desire for checks on federal government power.
  - The reason? They say it themselves: with the looming prospect of an Obama presidency, they may no longer be in charge of that Government and these "small government conservatives" have thus suddenly re-awoken to the virtues of checks and balances, oversight and other restraints.
    
    Add Sticky Note
  - In explaining his opposition to the Paulson plan, Levin warns:
  - Even if Hank Paulson were the all knowing god of economics, would it make sense to give this kind of power to the treasury secretary for the next two years just forty days before an election? Shall we go through our mental list of who an Obama administration (or a McCain administration for that matter) is likely to put in that post?
  - Gingrich writes:
  - Imagine that the political balance of power in Washington were different.
    
    If this were a Democratic administration the Republicans in the House and Senate would be demanding answers and would be organizing for a "no" vote . . . . But because this gigantic power shift to Washington and this avalanche of taxpayer money is being proposed by a Republican administration, the normal conservative voices have been silent or confused.
    
    It's time to end the silence and clear up the confusion.
  - Malkin is actually worried about vesting such power in Paulson himself -- she thinks he's basically a tool of the Communist Chinese, a follower of "Gore-esque" eco-zealotry, and worst of all, someone with ties to some Democrats --
  - but the point is the same: people have long predicted that the Right will do a complete reversal (once again) in their positions on vast federal power and unlimited executive authority the minute that such power is vested in someone they oppose and fear rather than in themselves.
  - The remarkable spectacle of watching these right-wing authoritarians suddenly demand Congressional oversight and voice opposition to unlimited executive power -- two months before a highly possible Obama victory -- is quite obviously reflective of that shift.
  - Rather hilariously, this was the very first comment from a Malkin reader after she sounded the alarm about the provision in the Paulson plan providing that his decisions are "non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency":
  - So something that is unconstitutional cannot be reviewed by a Federal court? I guess, not even the Supreme Court. Well, if it is accepted, a precedent has been set, which will allow other proposals/bills to go through, regardless of legality, being "non-reviewable" by Federal court. A government running amok . . . with people cheering.
    
    Add Sticky Note
  - This person obviously has no idea that such provisions are hardly "unprecedented," but have been appearing in several of the most controversial bills of the last eight years (as but one example, The Military Commissions Act, a right-wing favorite, essentially purported to bar courts from reviewing the President's decisions about who to detain and further barred judicial review of the Congressional scheme, and similar "court-stripping provisions" have long been a right-wing favorite in all sorts of contexts).
  - And more generally, this is how our Government has worked: the President demands unlimited power and Congress gives it to him.
  - It's only because visions of a Muslim, terrorist-sympathizing, socialist President Obama are haunting them in their feverish nightmares is the Right suddenly deeply fearful once again of vesting vast power in the Federal Government and the Executive.
    
    Add Sticky Note
  - But no matter. The blatant hypocrisy here, while extreme, craven and obvious, is also healthy.
  - Hypocrisy of this sort is actually a vital part of how checks and balances are supposed to work. It is expected that political factions, when in charge of the government, will seek to obtain greater power for themselves, and the check against that is that the "opposition party" will battle and resist -- not necessarily out of ideology or principle but due to raw power considerations and self-interest.
  - That is what has been so tragically missing from our political process for the last eight years: while the GOP sought greater and greater government power, Democrats acquiesced almost completely when they weren't complicitly enabling it.
  - While the Executive was off the charts in terms of the power it seized, the Congress was off the charts in its passivity and eagerness to relinquish its Constitutionally assigned powers to the Bush White House.
  - That's what has caused the extreme imbalance, with a bloated Republican Party and virtually unlimited presidential power: the failure of Democrats and the Congress to serve as a check on any of that.
  - As their newfound contempt for unlimited power makes conclusively clear, the executive-power-worshipping Republicans of the last eight years -- if there is an Obama presidency -- will quickly re-discover their limited government power "principles" and won't be nearly as accommodating.
  - UPDATE: I should add that Congressional Democrats, while largely on board with the fundamentals of the bailout plan, have been making noises about demanding some limits and oversight on how this fund is managed, and the political climate is certainly part of what is motivating the Right to voice these doubts, as illustrated by the bizarre and deeply cynical spectacle of the GOP presidential nominee -- of all people -- joining with the Democrats to demand limits on CEO compensation.
  - The point, though, is that Democrats typically make noises of this type and then capitulate at the end if they stand alone.
  - This Paulson bill can be stopped only with widespread opposition that cuts across the standard ideological/partisan lines, and it shouldn't be that hard to argue why handing over $700 billion to the very people who caused this disaster, while allowing them to walk away soaked with profits, is not a good idea,
  - and that vesting unlimited power in the Bush administration to manage that is a particularly bad idea. If Democrats can't win that argument, what argument can they win?
  - UPDATE II: A Rasmussen Reports poll released today found that "most Americans are closely following news reports on the Bush Administration's federal bailout plan for the country’s troubled economy, but just 28% support what has been proposed so far."
  - Thirty-seven percent oppose it and 35% are unsure.
  - As El Zongo notes in comments, this bailout -- like the FISA gutting and telecom amnesty which preceded it -- has no real constituency beyond the Washington establishment.
  - That the public is so opposed and/or primed to oppose it more doesn't mean this won't pass -- we don't exactly have a substantial connection between what Washington does and public opinion -- but it does provide an important foundation for derailing this if political leaders decide they should or must.
  - -- Glenn Greenwald
USA

This was a rather tame run down of the coup in Washington that has taken over American; compared to Kirwan's usual writings.

www.rense.com/usa.htm - Preview

jim-kirwan america slave-states federal-reserve george-bush usa congress bailouts tax-payers feudalistic nwo on 2008-09-23
- USA
  
  Jim Kirwan
  
  9-22-8
- Today Bush literally said: "Yeah, this is a big price
  tag, cause it's a big problem. I told my people that I don't want to be
  timid in the face of a significant problem that'll affect the average citizen."
- 49 more annotations...
- - In that same spirit, the public needs to respond to the
    fact that the United States has become nothing more than one continuous
    "immediate crisis" constantly on alert for threats of all kinds,
    but which responds only to the needs of the private corporate elite:
  - Our
    failed leader has left out some key points in his most recent proposals
    that need to be considered:
  - while
    consigning the needs of ordinary working people to the trash-heap!
  - POINT 1, is that this country is no longer a Republic
    we are a corporation that is still in bankruptcy, which is why we cannot
    now just declare bankruptcy!
  - "The UNITED STATES GOVERNMENT CORPORATION
    went BANKRUPT in 1933.
  - They MUST renew the bankruptcy every 70 years.
    It was renewed in 2003.
  - So it's already been bankrupt for over
    70 years which is why everything is such a mess.
  - The U.S. Government
    became the US GOVERNMENT CORPORATION via the Act of 1871.
    
    Add Sticky Note
  - The result is
    that even our elections have been a complete sham and scam.
  - The American
    people believe the system goes something like this, because it is what
    we have been taught in school (and) essentially brainwashed to believe."
    (1)
  - POINT 2, is that the government is also lying about the
    urgency of this crisis, it does not "have to be addressed this instant."
    In fact 'the problem has not happened yet.'
  - What is relevant is that Bush
    & Cheney have decided to create a pre-emptive financial attack upon
    the people of the USA, in order to crush dissent, before opposition to
    their plans can get organized.
    
    Add Sticky Note
  - "With truly extraordinary speed, opinion has swung
    behind the radical idea that the government should commit hundreds of billions
    in taxpayer money to purchasing dud loans from banks that aren't actually
    insolvent.
  - As recently as a week ago, no public official had even mentioned
    this option. Now the Treasury, the Fed and congressional leaders are promising
    its enactment within days.
  - The scheme has gone from invisibility to inevitability
    in the blink of an eye. This is extremely dangerous.
  - Supporters
    have invoked the shining success of the Resolution Trust Corporation as
    justification and precedent. But the RTC, which was created in 1989 to
    clean up the wreckage of the savings-and-loan crisis, bears little resemblance
    to what is being contemplated now.
  - The plan is being marketed under false pretenses.
  - The RTC collected and eventually sold
    off loans made by thrifts that had gone bust. The administration proposes
    to buy up bad loans before the lenders go bust. This difference raises
    several questions.
  - The first is whether the bailout is necessary.
  - In 1989,
    there was no choice. The federal government insured the thrifts, so when
    they failed, the feds were left holding their loans; the RTC's job was
    simply to get rid of them.
  - But in buying bad loans before banks fail, the
    Bush administration would be signing up for a financial war of choice.
  - It would spend billions of dollars on the theory that preemption will avert
    the mass destruction of banks. There are cheaper ways to stabilize the
    system." (2)
  - POINT 3, involves the actual status of the USA, or any
    other country, as a nation state today.
    
    Add Sticky Note
  - There are literally hundreds national
    flags still flying in the world - but the only 'countries' that matter
    now are the privately owned corporate states that have taken over everything
    already.
  - We must resist or we shall be sentencing ourselves to meaningless
    impoverished lives of torture, shame, and needless death at the hands of
    the same people that have caused this so called 'crisis' in the first place.
  - POINT 4, is that the same people that created this phony
    fiscal emergency still have their jobs.
  - If this were real, then the first
    order of the day, for the nation and the world, would have been to fire
    the head of the Treasury and the SEC, at a minimum, but that was never
    contemplated because they are part of the pre-emptive strike and are needed
    to steal our money, reward the thieves and criminals and then leave us
    with the bills for all of it
  - without bothering to tell the public what
    exactly they will use the money for, or how much this will actually cost
    the public-nevermind the fact that like the Iraq War, there could well
    be no end in sight for this hijacking of the entire financial system of
    the USA! (3)
  - This goes all too well with the other surprises that were
    forced on Americans for political purposes: The lie of Pearl Harbor; the
    lie of the Gulf of Tonkin Incident; the lies about 911 and all that flowed
    from that; and of course the lies about Weapons of Mass Destruction in
    Iraq that's quite a lot of history to be associated with:
  - Especially
    when the last three mega-lies are directly associated with the same people
    who were also never fired, and who like Kissinger and Rumsfeld and Rove
    and dozens of others are still active in American policy today!
  - We need serious investigations beginning with 911 and
    moving on from there: but none of this will happen once Americans are permanently
    saddled with the kind of debt that is now being proposed for the backs
    of every American citizen, except of course for the elites who will become
    even more fabulously wealthy over this latest mega-lie!
  - On top of everything else, according to Citizens for Legitimate
    Government Bush is now asking for dictatorial control over all of this:
    "Bush administration seeks 'dictatorial power unreviewable by the
    third branch of government, the courts'
    
    Add Sticky Note
  - 20 Sep 2008 The Bush administration
    asked Congress for unchecked power to buy $700 billion in bad mortgage
    investments from U.S. financial companies in what would be an unprecedented
    government intrusion into the markets."
  - Unreviewable decisions by
    a US president, amounts to making GWB into a King, not unlike the King
    George whom the American colonists rebelled against!
  - POINT 5: If this plan gets the green light; then what
    will happen to our retirement plans and to social security may end up looking
    a lot like what happen to the Australians who have already done this.
  - "Governments at every level, federal, state and local,
    are warning of severe cuts to spending on social programs, basic services
    and infrastructure. In New South Wales, the most populous state, it has
    been revealed that local councils have lost hundreds of millions of dollars
    by sinking funds into complicated, high-risk investment products, and are
    preparing to slash spending on essential projects, including roads.
  - A recent
    report found that NSW councils had a combined exposure to collateralized
    debt obligations and capital-guaranteed products of $1 billion. Before
    Lehman Brothers collapsed, some 24 councils had been considering a class
    action against the corporation.
  - At the same time, millions of people are seeing their
    retirement funds decimated.
  - Over the past two decades, ordinary working
    people have been compelled by the compulsory superannuation scheme introduced
    by the previous federal Labor government to take cuts in real wages and
    divert money into giant superannuation funds, all of which have been caught
    up in speculating on the financial markets." (4)
  - And finally why not force the US 'government' to prove
    their case: demand that they show us that their "BAILOUT" will
    even work. And if their plan does not work, then what is their plan for
    that eventuality?
  - In times of a real crisis what is needed above all are
    calm and determined individuals, not the overly hyped-up babblings of a
    Paulson or a Bush. What is needed is a clean slate of players in the financial
    sphere of everything to do with our money?
  - The FED bears major responsibility
    for every monetary crisis going back to 1913 and yet Bush wants to turn
    all this over to them, where no questions will ever be considered!
  - Above all, the public whom this grand charade is supposedly
    all about, will not only get nothing but more debt from the "BAILOUT,"
    but the people will be burdened to the point of slavery for at least the
    next fifty years.
  - This entire fraud needs to be dissected, studied and
    verified by people other than those who got us into this in the first place!
  - The USA is not what it used to be in any aspect, but if even a shadow of
    this country is to remain, then the people who this government is suppose
    to serve must be heard from!
    
    Add Sticky Note
  - Unemployment is at 27% and climbing, working people are
    in a Depression, and the candidates are dithering around mumbling about
    gestures: they need to face questions from the people that are reasoned,
    thought-out and audible before a national audience!
  - Tough to do given that
    'the media' is the formal mouthpiece for these same corrupt pretenders
    all the way down the line. But 'creative people' might find a way, if it
    really matters to them!
  - Bush says he "refuses to be timid in the face of
    (this) significant problem." So if that's good enough for the lame-duck
    in the Oval Office, it ought to be good enough for more Americans!
  - kirwanstudios@sbcglobal.net

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