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25 Dec 09

Goldman Sachs Leaves Family Out in the Cold - ABC News

Rolling in Dough, Still Kicking Out Families
Goldman Sachs Subsidiary Among 'Loan Servicers' Collecting Criticism
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- By RICH BLAKE
  Dec. 23, 2009
- There's no place like home for the holidays. But this year, Phil and Barb Kubes and their three children will have to settle for memories of Christmas past.
- Last month, the Omaha, Neb., family was forced out of their home of 12 years after falling drastically behind on mortgage payments.
- Having failed to reach a workable solution with Litton Loan Servicing, the Houston-based company that collects their mortgage debt, the Kubes were foreclosed upon and told to vacate.
- They ended up renting a house across town.
- "It's comfortable," Barb Kubes said. "But it's not home."
- Litton is by no stretch the largest loan servicing company --
- essentially the mortgage industry's version of a collection agency --
- but it is among the ones coming under the most heavy fire in the wake of a housing crisis that continues to roil the country.
- Litton, unfairly or not, has drawn the wrath of legions of homeowners, homeowner advocacy groups, lawmakers, labor unions and class action attorneys alike.
- One glaring reason Litton has attracted so much of the scorn directed at loan servicing in general: It is owned by Goldman Sachs, proverbial poster child for Wall Street's excess and its percieved indifference to the plight of average Americans.
- "Upset," Barb Kubes said, choking back emotion, when she was asked how she felt when she found out Litton was owned by massively profitable Goldman Sachs.
- It didn't help that her hometown hero, Warren Buffett, the so-called Oracle of Omaha, invested $5 billion in Goldman shares during the height of the crisis last year.
  
  "I'm surprised Warren Buffett would have anything to do with them," she said.
- With the exception of maybe AIG, no firm has come to symbolize Main Street's disgust with Wall Street practices more than Goldman.
- In a move that caused a global backlash, Goldman has said it expects to set aside more than $20 billion for bonuses and other forms of employee compensation and benefits at the end of the year.
- Critics of Goldman's compensation practices say the firm has no business handing out billions to bankers and traders after having been the beneficiary of numerous forms of federal assistance, including TARP money (that Goldman has since paid back) as well as billions in FDIC-guaranteed loans and another $13 billion in taxpayer money given to AIG that was ultimately paid to Goldman.
- Though it will derive only a tiny fraction of the billions it expects to earn this year from revenues produced by Litton, Goldman nevertheless finds itself, albeit indirectly, connected to a highly controversial issue at the crux of the housing crisis: Widespread failure by banks to allow homeowners to modify their loans.
- A recent study by the Federal Reserve Bank of Boston showed banks have little incentive to modify loans to help homeowners avoid foreclosure because of one simple reason that at this time of year perhaps only Ebenezer Scrooge could appreciate: Loan modification is not profitable for lenders.

03 Dec 09

Arming Goldman With Pistols Against Public: Alice Schroeder - Bloomberg.com

Arming Goldman With Pistols Against Public: Alice Schroeder
Commentary by Alice Schroeder
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- “I just wrote my first reference for
  a gun permit,” said a friend, who told me of swearing to the
  good character of a Goldman Sachs Group Inc. banker who applied
  to the local police for a permit to buy a pistol.
- Dec. 1 (Bloomberg)
- The banker had
  told this friend of mine that senior Goldman people have loaded
  up on firearms and are now equipped to defend themselves if
  there is a populist uprising against the bank.
- I called Goldman Sachs spokesman Lucas van Praag to ask
  whether it’s true that Goldman partners feel they need handguns
  to protect themselves from the angry proletariat.
- He didn’t call
  me back.
- The New York Police Department has told me that “as a
  preliminary matter” it believes some of the bankers I inquired
  about do have pistol permits. The NYPD also said it will be a
  while before it can name names.
- While we wait, Goldman has wrapped itself in the flag of
  Warren Buffett, with whom it will jointly donate $500 million,
  part of an effort to burnish its image -- and gain new Goldman
  clients.
- Goldman Sachs Chief Executive Officer Lloyd Blankfein
  also reversed himself after having previously called Goldman’s
  greed “God’s work” and apologized earlier this month for
  having participated in things that were “clearly wrong.”
- Has it really come to this? Imagine what emotions must be
  billowing through the halls of Goldman Sachs to provoke the firm
  into an apology.
- Talk that Goldman bankers might have armed
  themselves in self-defense would sound ludicrous, were it not so
  apt a metaphor for the way that the most successful people on
  Wall Street have become a target for public rage.
- Pistol Ready
- Common sense tells you a handgun is probably not even all
  that useful. Suppose an intruder sneaks past the doorman or
  jumps the security fence at night. By the time you pull the
  pistol out of your wife’s jewelry safe, find the ammunition, and
  load your weapon, Fifi the Pomeranian has already been taken
  hostage and the gun won’t do you any good.
- As for carrying a
  loaded pistol when you venture outside, dream on. Concealed gun
  permits are almost impossible for ordinary citizens to obtain in
  New York or nearby states.
- In other words, a little humility and contrition are
  probably the better route.
- Until a couple of weeks ago, that was obvious to everyone
  but Goldman, a firm famous for both prescience and arrogance.
- In
  a display of both, Blankfein began to raise his personal-
  security threat level early in the financial crisis.
- He keeps a
  summer home near the Hamptons, where unrestricted public access
  would put him at risk if the angry mobs rose up and marched to
  the East End of Long Island.
- To the Barricades
- He tried to buy a house elsewhere without attracting
  attention as the financial crisis unfolded in 2007, a move that
  was foiled by the New York Post.
- Then, Blankfein got permission
  from the local authorities to install a security gate at his
  house two months before Bear Stearns Cos. collapsed.
- Blankfein somehow anticipated the persecution
  complex his fellow bankers would soon suffer.
- Surely, though,
  this man who can afford to surround himself with a private army
  of security guards isn’t sleeping with the key to a gun safe
  under his pillow. The thought is just too bizarre to be true.
- So maybe other senior people at Goldman Sachs have gone out
  and bought guns, and they know something. But what?
- Henry Paulson, U.S. Treasury secretary during the bailout
  and a former Goldman Sachs CEO, let it slip during testimony to
  Congress last summer when he explained why it was so critical to
  bail out Goldman Sachs, and -- oh yes -- the other banks.
- People
  “were unhappy with the big discrepancies in wealth, but they at
  least believed in the system and in some form of market-driven
  capitalism. But if we had a complete meltdown, it could lead to
  people questioning the basis of the system.”
- Torn Curtain
- There you have it. The bailout was meant to keep the
  curtain drawn on the way the rich make money, not from the free
  market, but from the lack of one.
- Goldman Sachs blew its cover
  when the firm’s revenue from trading reached a record $27
  billion in the first nine months of this year, and a public that
  was writhing in financial agony caught on that the profits
  earned on taxpayer capital were going to pay employee bonuses.
- This slip-up let the other bailed-out banks happily hand
  off public blame to Goldman, which is unpopular among its peers
  because it always seems to win at everyone’s expense.
- Plenty of Wall Streeters worry about the big discrepancies
  in wealth, and think the rise of a financial industry-led
  plutocracy is unjust.
- That doesn’t mean any of them plan to move
  into a double-wide mobile home as a show of solidarity with the
  little people, though.
- Cool Hand Lloyd
- No, talk of Goldman and guns plays right into the way Wall-
  Streeters like to think of themselves.
- Even those who were
  bailed out believe they are tough, macho Clint Eastwoods of the
  financial frontier, protecting the fistful of dollars in one
  hand with the Glock in the other.
- The last thing they want is to
  be so reasonably paid that the peasants have no interest in
  lynching them.
- And if the proles really do appear brandishing pitchforks
  at the doors of Park Avenue and the gates of Round Hill Road,
  you can be sure that the Goldman guys and their families will be
  holed up in their safe rooms with their firearms.
- If nothing
  else, that pistol permit might go part way toward explaining why
  they won’t be standing outside with the rest of the crowd, broke
  and humiliated, saying, “Damn, I was on the wrong side of a
  trade with Goldman again.”
- (Alice Schroeder, author of “The Snowball: Warren Buffett
  and the Business of Life” and a former managing director at
  Morgan Stanley, is a Bloomberg News columnist. The opinions
  expressed are her own.)
- To contact the writer of this column:
  Alice Schroeder at aliceschroeder@ymail.com.
  
  Last Updated: November 30, 2009

22 Nov 09

Wall Street tax must be international: Pelosi | U.S. | Reuters

www.reuters.com/...idUSTRE5AI3ZV20091119 - Preview

Nancy-Pelosi Speaker Congress Wall-Street Big-Business taxes International-Tax Obama Democrats Squeaker-of-the-Mouse Liberals Leftists Washington-DC NYC

Wall Street tax must be international: Pelosi
Thu Nov 19, 2009
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- By Andy Sullivan
- WASHINGTON (Reuters) - Any tax imposed on financial transactions would have to take effect internationally to keep Wall Street jobs and related business from moving overseas, U.S. House of Representatives Speaker Nancy Pelosi said on Thursday.
- "It would have to be an international rule, not just a U.S. rule," Pelosi said at a news conference.
- "We couldn't do it alone, we'd have to do it as an international initiative."
- Several House Democrats have proposed a Wall Street tax to pay for job-creating legislation they plan to pass in December.
- The tax, which could raise $150 billion per year, would tap into widespread public outrage at Wall Street in the wake of the financial crisis.
- "There's something really out of kilter in this society," said Democratic Representative Marcy Kaptur, noting the gap between wages in her Ohio district and Wall Street bonuses.
  - There's something "out of kilter" alright and it stinks to the heavens.. - on 2009-11-22
  Add Sticky Note
- But support is tepid among key legislators, especially those from the New York region who worry that finance jobs could disappear if the tax drives trading activity overseas.
- The No. 4 Democrat in the House, Representative John Larson, said his proposal to impose a 0.25 percent tax on over-the-counter derivatives transactions would apply internationally.
- "Part of our proposal would include that it would be international," Larson told Reuters after meeting with other lawmakers about the jobs package.
  - So..American Jobs creation/formulation is going to the "Global Community?" - on 2009-11-22
  Add Sticky Note
- Democratic Representative Peter DeFazio said his separate proposal, which would tax a wider array of trading activity, would cover all U.S. corporations and individuals no matter where their trades took place.
- Pelosi and other Democratic leaders have emphasized that the proposal is merely one of many ideas in play.
- "It hasn't been developed to a high priority, but it has substantial currency in our caucus," Pelosi said.
- Britain urged other governments earlier this month to consider a bank tax as a way to fund future bailouts, and France and Germany have also called for a bank tax.
- The International Monetary Fund is studying the idea.
- LITTLE ADMINISTRATION SUPPORT
- But it has little support in the Obama administration.
- Treasury Secretary Timothy Geithner said on Thursday that he has "not seen a version of that tax that I think would be appropriate for our country."
- Democrats are developing their jobs bill to ease double-digit unemployment levels that threaten an economic recovery. The Senate is expected to act early next year.

06 Nov 09

Flu shots for Wall Street stirs ire in New York | U.S. | Reuters

Is anyone really surprised that these arrogant bastards would make sure they were protected first before the poor and needy?

www.reuters.com/...idUSTRE5A44QI20091105 - Preview

flu-shots vaccine new-york wall-street anger elite Lucies banksters goldman-sachs Citi morgan-stanley CDC shortage

Flu shots for Wall Street stirs ire in New York
Thu Nov 5, 2009
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- By Bill Berkrot
- NEW YORK (Reuters) - New York City health officials scrambled to explain themselves on Thursday in the wake of media reports about bankers who got scarce H1N1 flu vaccines through their employers.
- Members of Congress fired off letters demanding immediate explanations and the U.S. Centers for Disease Control and Prevention reminded state and city health officers of the need to make sure the most vulnerable people get shots first.
- "I am concerned that the distribution of the vaccine is resulting in favored treatment for the privileged," New Jersey Democratic Representative Frank Pallone said.
- A shortage of H1N1 vaccines has frayed nerves, and public health departments across the country say they will not be able to meet the bulk of the demand until December or January.
- The CDC estimates swine flu has infected more than five million people and it is documented as having killed 1,000.
- The federal government, which is buying the vaccines and distributing them for free to 62 state and city health departments, says 35.6 million doses have been made and packaged since production began.
- Connecticut Sen. Chris Dodd, a Democrat, released a letter to Health and Human Services Secretary Kathleen Sebelius saying he was "stunned" at the reports.
- "I implore you to use whatever authorities you have to ensure that H1N1 vaccines already distributed but not yet used are promptly redirected to hospitals, schools, community health clinics, school-based health clinics, and pediatricians so that they can be made immediately available to at-risk members of the public as identified by the Department," Dodd wrote.
- CDC Director Dr. Thomas Frieden sent out a reminder to state and city health departments that distribute vaccine.
  
  "I ask each of you to review your plans immediately and work to ensure that the maximum number of doses is delivered to those at greatest risk as rapidly as possible," he wrote.
- "When H1N1 vaccine first became available in the fall, we directed all available doses to pediatricians, OB-GYNs, community health centers, public and private hospitals," New York City health department spokeswoman Jessica Scaperotti said in a telephone interview.
- She said the city had given 800,000 doses to about 1,100 providers, with Lenox Hill Hospital, for example, getting 1,200 doses
- and banking firm Goldman Sachs getting 200 of the 5,300 doses it asked for, Scaperotti said.
- She said 16 of the city's 25 biggest employers had vaccine, including Columbia University, Citi Group and others,
- as well as the Federal Reserve Bank, which is not among the top 25 employers.
- Morgan Stanley said it received 500 doses of the vaccine for its New York City locations and 500 doses for its Westchester location in suburban New York.
- "We never thought we would receive doses ahead of area hospitals and once this was brought to our attention, we promptly donated the doses we received to a few area hospitals," including Morgan Stanley Children's Hospital in New York, a company spokeswoman said.
- (Reporting by Bill Berkrot, Dan Wilchins and Maggie Fox, editing by Alan Elsner, Eric Walsh and Paul Simao)

05 Nov 09

Goldman takes on new role: taking people's homes - Yahoo! News

news.yahoo.com/...3342424;_ylt=patrick.net.net - Preview

Goldman-Sachs Wall-Street americans mortgages home-owners middle-class poor Henry-Paulson US-Govt Washington-DC US-Treasury-Secretary GE-Corp Argent theft criminal-cabal bankers international-ring

SAN JOSE, Calif. -- When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages.
The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle that pushed them into bankruptcy.
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- The lender with whom they sparred, however, wasn't the one that had written their loans. It was an obscure subsidiary of Wall Street colossus Goldman Sachs Group .
- Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds.
- Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
- The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender,
- even after they wrote to Goldman's then-Chief Executive Henry Paulson -- later U.S. Treasury secretary -- in 2003.
- Unable to identify a lender, the couple could neither capitalize on a mortgage hardship provision that would allow them to defer some payments, nor on a state law enabling them to offset their debt against separate, investment-related claims against Goldman.
- In July, the Beckers won a David-and-Goliath struggle when Goldman subsidiary MTGLQ Investors dropped its bid to seize their house.
- By then, the college-educated couple had been reduced to shopping for canned goods at flea markets and selling used ceramic glass.
- Theirs is an infrequent happy ending among the hundreds of cases in which subsidiaries of Goldman, better known for sending top officers such as Paulson to serve in top Washington posts, have sought to contain bondholder losses by foreclosing on properties and evicting delinquent borrowers.
- Goldman spokesman Michael DuVally declined to comment on individual cases or on the firm's new role in bankruptcy courts.
- Joining other Wall Street firms that bought millions of subprime mortgages, Goldman companies have gone to courts from California to Florida seeking approval to foreclose on the homes of middle- and lower-income Americans who couldn't keep up with their loans' soaring monthly payments.
- Some borrowers were speculators or homebuyers who exaggerated their incomes on loan applications, thinking they'd always have an escape hatch because housing prices would keep rising.
- Others, however, were victims of fast-talking mortgage brokers who didn't explain that the loans' interest rates could rise to as high as 15 percent. Many borrowers who defaulted on their mortgages may never qualify for a home loan again.
- In court encounters, Goldman and other Wall Street firms have faced the impact of their own wheeling and dealing.
- Many of the families being put on the street never would've gotten their big mortgages if investment banks hadn't provided a seemingly insatiable secondary market for millions of loans to marginally qualified buyers.
- Subprime borrowers were supposed to provide a safe income stream for investors who bought mostly high-grade, triple-A-rated bonds from Goldman and bigger subprime players, such as now-defunct Lehman Brothers and Merrill Lynch .
- Now, millions of these borrowers have defaulted on mortgage payments, contributing to a historic slump in home prices and depressing the bonds' value. Half the homes in some California neighborhoods have been subject to foreclosures or short sales, in which a home is sold for less than the mortgage balance, and either the seller or the lender takes a loss.
- Earlier this year in Los Angeles , the Wall Street giant took possession of the home of Gladys Aguirre , a housecleaner who's married to a construction worker. Together, the couple listed monthly earnings of $7,480 , including $3,480 from a job she'd held for two months.
- Aguirre originally took a $444,000 subprime mortgage on Sept. 1, 2005 , from Argent Mortgage Co. , a subsidiary of big subprime lender Ameriquest Mortgage Co. , which shut down in 2007. The adjustable interest rate sent her monthly payments zooming to $3,800 from $2,479 , and Aguirre couldn't keep pace on that loan or a $119,000 second mortgage. She filed for bankruptcy protection.
- Aguirre's Los Angeles lawyer, Eber Bayona , declined to discuss her case, but said that subprime loans amounted to "setting up the person for failure" because interest rate adjustments hit borrowers with "shock payments."
- For example, he said, loan agents promised applicants that they could buy a $600,000 house for payments of $1,200 a month, and the buyers "never read the fine print . . . (and) didn't know their interest would increase and that eventually they would lose their house and their money."
- In San Fernando, Calif. , Dina Alfero-Pacheo qualified for two mortgages totaling nearly $500,000 , with monthly payments starting at $2,004 . By 2007, the payments had grown to $3,761 . In a bankruptcy filing early this year, Alfero-Pacheo said she was a bartender earning $3,800 a month.
- Goldman bought her first mortgage from Argent and recently got title to the house, which had sunk in value to $280,000 from more than $500,000 .
- In Orlando, Fla. , Adela Mendez seems to be someone who would've known the risks when she took a $164,000 mortgage from Argent on her home in 2005 and a $75,000 second mortgage a year later. In a bankruptcy filing this year, she listed her occupation as a loan specialist for Washington Mutual , a leading subprime lender that collapsed last year.
- Not only did Mendez fall 11 months behind on her mortgage payments, but her home's value also plummeted to $100,000 .
- Goldman Sachs Mortgage, which bought the Argent loan, took the house -- and at least a 50 percent loss.
- The Beckers charged that in their case, Goldman engaged in years of obfuscation and resistance.
- "In bankruptcy court, they tried to portray us as incompetent or deadbeats,'' said Celia Fabos-Becker , blinking back tears as she sat with her husband in their living room, with boxes of mortgage-related documents surrounding them.
- The couple thought they'd made a safe bet in 2000 when they opened a retail jewelry business in two San Diego County areas populated mainly by military personnel.
- After a wildfire ravaged much of the area in 2002, the Beckers refinanced their house to generate some $70,000 in cash to prop up their two stores.
- The wars in Afghanistan and Iraq , however, brought big military call-ups, sapping their market.
- They wound up with an adjustable-rate, subprime loan from WMC Mortgage Corp. , an arm of General Electric's GE Money unit, and a 10.75 percent second mortgage with the same lender.
- A second wildfire in 2003 all but killed their business and left the couple reeling financially as interest-rate adjustments pushed the mortgage payments higher.
- "We'd gotten to the point where I was cutting my own hair. I was cutting his on occasion," Fabos-Becker said.
  
  "And trolling the Goodwills," Tony Becker said.
- Tony Becker , an engineer, took short-term contract jobs amid the technology bust. Celia Fabos-Becker , meanwhile, found a provision in the mortgages that allowed the borrower to push payments to the end of the loan term in the event of a disaster such as the two fires.
- When she wrote to Paulson, however, lawyers for Goldman denied that it owned the Beckers' mortgages. So did Germany's Deutsche Bank , a trustee that was holding thousands of subprime mortgages Goldman had converted to bonds.
  - International criminal cabal..domestic and "foreign" mafiosa..Oh..."but there's no conspiracy! Honest, there ain't!" - on 2009-11-05
  Add Sticky Note
- To stall foreclosure, the Beckers wound up negotiating "forbearance agreements" with Ocwen Loan Servicing, a Florida company, that required the couple to pay several thousand dollars under the threat that their house would be auctioned off in a week or a month, Fabos-Becker said. Their monthly payments rose to nearly $3,300 from $2,650 .
- The couple already had taken Goldman and Morgan Stanley , another Wall Street firm, to arbitration over their $325,000 in stock market losses, accusing the investment banks of misleading investors about public offerings.
- On the same day in June 2006 , Goldman sued to end the arbitration, and Ocwen filed papers seeking to foreclose on the Beckers' home.
- In desperation, the couple filed for bankruptcy protection. With no money to hire an attorney, they acted as their own lawyers.
- As the months dragged on, Fabos-Becker finally found a filing with the Securities and Exchange Commission confirming that Goldman had bought the mortgages.
- Then, when a lawyer for MTGLQ showed up at a June 2007 court hearing on the stock battle, U.S. District Judge William Alsup of the Northern District of California demanded to know the firm's relationship to Goldman, telling the attorney that he hates "spin."
  
  The lawyer acknowledged that MTGLQ was a Goldman affiliate.
- That was an understatement. MTGLQ, a limited partnership, is a wholly owned subsidiary of Goldman that's housed at the company's headquarters at 85 Broad Street in New York , public records show.
- In July, after U.S. Bankruptcy Judge Roger Efremsky of the Northern District of California threatened to impose "significant sanctions" if the firm failed to complete a promised settlement with the Beckers, Goldman dropped its claims for $626,000 , far more than the couple's original $356,000 in mortgages and $70,000 in missed payments. The firm gave the Beckers a new, 30-year mortgage at 5 percent interest.
- That lowered their monthly payment to $1,900 , less than half the maximum $4,000 a month their subprime loans could've demanded.
- Fabos-Becker, 60, said that the trauma has left her hair "a lot grayer." Much of the stress would have been alleviated, she said, if a law required lenders to identify themselves, especially to borrowers facing hardships.
- "I take solace," Tony Becker said, "in knowing that I was up against the worst possible opponent -- the biggest, strongest investment bank in the world."
- ( Tish Wells contributed to this article.)
  
  (This article is part of an occasional series on the problems in mortgage finance.)
- COMING TOMORROW
  
  Goldman Sachs and other Wall Street firms turned to secret Cayman Islands deals to draw overseas investors, including European banks and other foreign financial institutions, to invest hundreds of billions of dollars in securities tied to risky U.S. home loans. Unlike U.S. investors that lost money on the securities, however, these overseas institutions have fewer legal options.

20 Oct 09

No Recovery! Recession To Worsen Revolution To Follow

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

gerald-celente forecast recovery illusions depression USA global end-time economy wall-street main-street revolution US-Govt

No Recovery. It's a Cover up!
Recession To Worsen Revolution To Follow
16 more annotations...
- Gerald Celente
  
  Trends Research Institute
  
  10-20-9
- KINGSTON, NY 20 October
  2009 - What 80 percent of economists call "Recovery" is a "Cover
  up".
- Trillions in losses papered over with trillions of phantom dollars
  printed out of thin air and backed by nothing produce nothing except the
  mirage of recovery.
- The dollar's dive and gold's historic high is no mirage.
  Gold doesn't lie.
- Our trend forecasting track record is the best on record
  light years ahead of Ben Bernanke's
- and all those economists
  who didn't see the recession coming but who now talk recovery.
- In the Autumn Trends Journal® we dispel the recovery
  as fantasy and show how and why America and much of the world will plunge
  into the Greatest Depression.
- The global equity market surge and bankers'
  bonuses do absolutely nothing for the man on the street. Foreclosures are
  at an all time high, businesses are going bankrupt, jobs continue
  to disappear.
- While Wall Street cheers, Main Street seethes.
- The 2nd
  American Revolution has already begun, and it's much more than a right
  wing, militia driven movement.
- Who's behind it, will it be velvet or violent,
  waged with guns or won by minds?
- Across America and around the world, everyone wants to
  know what's going to happen and nobody knows better than Gerald Celente.
- Google it up. Celente is today's # 1 "trend expert", sought by
  the major media world wide.
- In a world of dry academics and glib pitchmen, Gerald
  Celente's dynamic, tell-it-like-it-is, take-no-prisoners style strikes
  a common chord with audiences everywhere. When Celente is interviewed the
  world tunes in and ratings rise.
- For a press copy of the Autumn Trends Journal and/or
  to schedule an interview with Gerald Celente, contact Zeke West zwest@trendsresearch.com)
- © The Trends Research Institute MMIX
  
  The Trends Research Institute | P.O. Box 3476 | Kingston,
  NY 12402

29 Sep 09

Wall Street Is Now Packaging and Selling 'Death Plans'

www.cuttingedge.org/...n2383.cfm - Preview

cutting-edge wall-street goldman-sachs life-insurance disease CDC CFR us-govt feds plague H1N1 greed body-parts illuminati NWO

Title:
Wall Street Is Now Packaging and Selling "Death Plans"!
Subtitle: Investors will not make money unless a great number of people
die suddenly -- and soon!
71 more annotations...
- "They must eventually resort to war to balance the account, because
  war ultimately is merely the act of destroying the creditor and the politicians
  are the publicly hired hit men..." (William Cooper, "Behold
  A Pale Horse", p. 49)
- The New World Order is coming! Are you ready? Once you understand what
  this New World Order really is, and how it is being gradually implemented, you
  will be able to see it progressing in your daily news!!
- THE CUTTING EDGE
- Copyright © 2009 Cutting Edge Ministries. All rights reserved.
- Today's newspapers are full of reports of death. The wars in Iraq
  and Afghanistan continue to take the lives of American, NATO and Afghan/Iraqi
  soldiers and civilians. Wars in countries in Africa continue to consume the
  lives of thousands of people.
- Mass Media is also ratcheting upward their dire
  warnings that 2 billion people might die from Swine Flu
- But, the biggest publicized threat is a disease on
  the scale of the Black Plague of history which shall be so devastating that
  it will kill up to 25% of all mankind during the Tribulation Period (Seal #4,
  Revelation 6).
- Death on large scale is good business for the Media. Its scary
  stories frighten enough people so that large quantities of papers, magazines,
  and TV air time are sold.
- The Illuminati knows that, at the right moment when their Masonic
  Christ is on the world scene, they are going to release a pathogen which shall
  devastate mankind, a threat so huge that it will panic them into taking a vaccination
  which shall be so tainted that people who would have survived the plague will
  die from the vaccination.
- Listen to this part of the Plan:
- He advocated that a plague be introduced that would
  have the same effect as the famous Black Plague of history ... orders were given
  to develop the microbe and to develop a prophylactic and a cure.
- "Several Top Secret recommendations were made by Dr. Aurelio
  Peccei of the Club of Rome.
- The cure would
  be administered to the survivors when it is decided that enough people have
  died. The cure will be announced as newly developed when, in fact, it has existed
  from the beginning." ["Behold
  A Pale Horse" , p. 167]
- Illuminati
  Card Game
- Further evidence that the Illuminati is planning a severe plague
  which they are going to loose upon mankind is found in the Illuminati
  Card Game.
  Each card of this role-playing game was designed to represent
  one action which the ILLUMINATI planned to take in order to overthrow this current
  world system (Old World Order) so that the planned New World Order could be
  established.
- Therefore, we know that the Illuminati is planning to use the
  "Center For Disease Control" as a lead agency in the spreading of
  the planned plague.
- Their tactics for spreading the disease and in controlling
  the people include the deliberate implementation of epidemics and quarantine.
- These are somber plans, indeed, but very true. When they are carried
  out, they shall fulfill the prophecies of both Seal #4 and our Savior's warning:
  "There will be mighty and violent earthquakes, and in various
  places famines and pestilences (plagues: malignant and contagious or infectious
  epidemic diseases which are deadly and devastating) ..." (Luke 21:11, Parallel
  Bible, KJV/Amplified Bible Commentary)
- With all this information as background, it is time to ask a pertinent
  question: do the Illuminati leaders of Wall Street know of these deadly plans?
- I submit to you that the top titans of Wall Street must know of
  these plans, for their leaders are some of the most important movers and shakers
  of the global Illuminati Plan.
- Men like the Rockefellers, J.P. Morgan, Goldman
  Sachs, to just name a few, are some of the most influential of all the Illuminati
  leaders. Since key leadership of the financial center loosely called Wall Street
  know of these deadly plans, then this news story makes a whole lot of sense.
- NEWS BRIEF: "Selling
  Death: Wall Street’s Newest Bubble", By L. Randall Wray,
  Wall Street Pit: Global Market Insight, September 7, 2009
- Wall
  Street would search the world for transplantable organs, holding them in cold
  storage as collateral against securities sold to managed money such as pension
  funds. Of course, it was meant to be an apocryphal story about unregulated banksters
  gone wild. But as the NYT reports, Wall Street really is moving forward to market
  bets on death."
- "When Wall Street’s commodities bubble crashed last
  year, I asked whether the next bubble might be in securitized body parts.
- They know that their Plan calls for the Masonic Christ
  (Antichrist) to "cleanse" the earth of its excess population! And,
  they know that his appearance is getting very close.
- This simply makes sense! Wall Street tycoons are the same Illuminati
  leaders which are planning to reduce the population of the world by two-thirds
  (66%) or 4 billion people.
- Therefore, why not set up a market situation where they can make
  money on massive numbers of people suffering premature death! Why not set up
  a crass "market bets on death"?
- Let us now return to our featured news story to see how Wall Street
  is planning to profit from massive numbers of deaths in the near future!
- "The banksters would purchase life insurance policies, pool
  and tranch them, and sell securities that allow money managers to bet that the
  underlying “collateral” (human beings) will die an untimely death
  ...
- And the commodities futures speculation
  pushed by Goldman (NYSE:GS) caused starvation and death around the globe when
  the prices of agricultural products exploded (along with the price of gasoline)
  between 2004 and 2008. But now Goldman will directly cash-in on death."
- This is just the latest Wall Street scheme to profit on death, of course.
- It has been marketing credit default swaps that allow one to bet on the death
  of firms, cities, and even nations.
- If you are not familiar with Goldman Sachs, it is controlled by
  the Council on Foreign Relations (CFR) and is a major mover and shaker in implementing
  the changes which the Illuminati wants to create in the financial markets.
  - And the glorified and much admired (by ignorant or uncaring "Conservatives") Mike Huckabee had on his campaign staff in 2008 a CFR member, who was advising him. - on 2009-09-29
  Add Sticky Note
- Please
  read full details in NEWS1191,
  entitled, "Council on Foreign Relations A
  Major Key In The Drive To The New World Order")
- Now, let us return to our featured news story on how Wall Street
  is planning to make a lot of money when a lot of people die prematurely.
- "Here is how it works. Goldman will package a bunch of life
  insurance policies of individuals with an alphabet soup of diseases: AIDS, leukemia,
  lung cancer, heart disease, breast cancer, diabetes, and Alzheimer’s.
- These policies are the collateral behind securities graded
  by those same ratings agencies that thought subprime mortgages should be as
  safe as US Treasuries. Investors purchase the securities, paying fees to Wall
  Street originators. The underlying collateralized humans receive a single pay-out.
- The idea is to diversify across diseases to protect 'investors' from the horror
  that a cure might be found for one or more afflictions–prolonging life
  and reducing profits.
- Securities holders pay the life insurance premiums until the 'collateral' dies,
  at which point they receive the death benefits. Naturally, managed money hopes
  death comes sooner rather than later."
- In other words, Goldman Sachs will buy a life insurance policy
  worth, say, $500,000 but offer the holder a payout of $100,000 cash in the hand
  right now;
- of course, Sachs would continue to pay the premiums as long as the
  holder is alive. And, when the "human collateral" dies, then Goldman
  Sachs would receive the $500,000.
- Obviously, the earlier the insurance holder
  dies, the more money Goldman Sachs will make!
- This incredibly macabre plan really and truly does need to have
  the vast majority of the people die early! In fact, the pressure upon Goldman
  Sachs to have these people die prematurely might be so great that the company
  may have to take steps to ensure early death -- on a massive scale.
- But, you
  protest, how could these greedy and unscrupulous Wall Street tycoons be able
  to cause massive numbers of people to die before their time?
- The answer lies in NEWS1191,
  "Council on Foreign Relations A Major Key
  In The Drive To The New World Order").
- All the leaders of Sachs would have to do is to dial up their
  political buddies in the Council on Foreign Relations and get them to start
  a war. Or release a plague -- both of which they plan to do anyway!
- Please take
  the time to read this extensive listing of the incestuous relationship which
  the Council on Foreign Relations has implemented amongst government, business
  and Mass Media leaders. Then you will discover, to your horror, that it is possible
  for one business CFR member to ask another CFR member in government for a really
  huge favor -- start that planned war or that planned plague, now!
- Returning to our featured article once again:
- "Moral hazards abound. There is a fundamental reason why
  you are not permitted to take out fire insurance on your neighbor’s house:
  you would have a strong interest in seeing that house burn. If you held a life
  insurance policy on him, you probably would not warn him about the loose lug
  nuts on his Volvo. Heck, if you lost your job and you were sufficiently ethically
  challenged, you might even loosen them yourself."
- We have always stated that leaders of the Illuminati plan to make
  an awful amount of money on their way to the New World Order. You are seeing
  the most unusual method of making that mountain of cash, however.
- "Imagine the hit to portfolios of securitized death if universal
  health care were to make it through Congress."
- This statement implies that Wall Street will have the clout to
  prevent a government 'public option' health plan, which would put private health
  insurers out of business.
- However, Cutting Edge believes that the planned health
  system is somewhat different. Since the Plan foresees the entire economy transitioning
  to a Fascist System,
  where the ownership of the business remains officially in private hands, but
  is tightly regulated by government, we expect that the Health Care Plan winding
  its way through Congress will also be Fascist.
- In other words, private insurers
  will continue to operate, but they will be tightly controlled by the government.
  - This idea is one that has been voiced and pushed (and claimed to be his own brain child) by the blow hard and faux Conserv, Mr Bill O'Reiley - on 2009-09-29
  Add Sticky Note
- This news article raises another problem:
- "Or the efforts by Wall Street to keep new miracle drugs
  off the market if they were capable of extending life of human collateral. Who
  knows, perhaps the bankster’s next investment product will be gansters
  in the business of guaranteeing lifespans do not exceed actuarially-based estimates."
- Impossible, you say?
  "If you think all of this is far-fetched, you have not been
  paying attention.
- From Charles Keating’s admonition to his sales staff
  that the weak, meek and ignorant elderly widows always make good targets ...
  we know that Wall Street’s contempt for the rest of us knows no bounds."
- Listen
  to New Age author, Bill Cooper, again:
  ""The solution of today's problems requires an approach
  which is ruthlessly candid, with no agonizing over religious, moral, or cultural
  values." ["Behold
  A Pale Horse", p. 37)
- Indeed, the Illuminati has a horrible view of mankind.
- ""Those who will not use their brains are no better
  off than those who have no brains, and so this mindless school of jelly-fish,
  father, mother, son and daughter, become useful beasts of burden, or trainers
  of the same." [Ibid., p. 64]
- "Keep the public busy, busy, busy, with no time to think;
  back on the farm with the other animals." [Ibid., p. 57]
- "Keep the public undisciplined, and ignorant of basic system
  principles on the one hand, while keeping them confused, disorganized, and distracted
  with matters of no real importance on the other hand." [Ibid.]
- "The general rule is that there is profit in confusion; the
  more confusion, the more profit. Therefore, the best approach is to create problems
  and then offer the solutions." [Ibid] This statement is also called the
  "Dialectic Struggle" where the Illuminati first creates a horrific
  crisis and then steps in to calm the public with a plan which they had created
  much earlier, a plan allowing them to carry out the extensive changes they desired
  in the first place.
  - Just as the Patriot Act was proven to have been prepared before the "terrorist" attack on Sept 11, 2001. - on 2009-09-29
  Add Sticky Note
- If Goldman Sachs can carry out their nefarious scheme, what will
  be the likely result?
- "If Wall Street succeeds in this scheme, it will probably
  bankrupt the life insurance companies ... Reform of the US financial sector
  is neither possible nor would it ever be sufficient. As any student of horror
  films knows, you cannot reform vampires or zombies. They must be killed (stakes
  through the hearts of Wall Street’s vampires, bullets to the heads of
  zombie banks)."
- The Bible tells us how it is possible for this kind of monstrous
  scheming which coldly calculates how many people have to die early in order
  to make it work.
  "For the love of money is a root of all evils". (1 Timothy
  6:10)
- Since the coming New World Order will force the highest level
  of wickedness upon the world in all of human history, should we not expect that
  its implementation would result in the greatest level of evil? Of course, we
  should.
- This story reveals the crass nature of the Illuminati who are in control
  of our lives, or property, our jobs and our "pursuit of happiness".
- And, they intend to bring it all crashing down at the right moment
  in order to set up the Kingdom of the Masonic Christ (Antichrist).
- Copyright © 2009 Cutting Edge Ministries. All
  rights reserved. This password protected article and its contents are protected
  under the copyright laws of the United States and other countries. This article
  is provided by subscription only for use by the subscriber and all other rights
  are expressly reserved by the copyright owner. Copying and pasting this article,
  in whole or in part, into e-mails or as attachments to e-mails or posting it
  on the Internet is strictly prohibited and may subject the offender to civil
  liability and severe criminal penalties (Title 17, United States Code, section
  501 and 506).
  Copying and distributing
  this article in violation of the above notice is also a violation of God's moral
  law.

02 Mar 09

USA: Socialist President Obama Declares War on Investors, Entrepreneurs, Businesses, And More

www.africancrisis.co.za/Article.php - Preview

obama socialist usa business tax-hikes production stagflation wall-street blue-collar socialism america marxism south-africa anc slaves

USA: Socialist President Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Date Posted: Saturday 28-Feb-2009
27 more annotations...
- [This is great. Now the stupid ones in America who voted for Obama are starting to see that the FAR LEFT isn't as great as you were led to believe. (Well, it never is!!).
- I never even IMAGINED at any point in my life that I'd see investors and businesses fleeing from America, but as I view the Obama presidency, I think the unthinkable is possible.
- The journalist below would do good to read my book, Government by Deception. In there I describe the old Communist/Marxist/Far Left tactic of saying one thing, and pretending that you're solving problem A, when in fact, your real moves are aimed at creating problem B.
- The rhetoric then has a strange disjoint between what is said and what actually happens
- Americans can learn the game from us. You people think you know what a liar is, but I assure you, the ANC takes it to a whole new level.
- The ANC has been doing that in South Africa for years.
- And it appears to me, Obama is on that level too. Sometimes people need to learn good and hard. I hope Obama is only a one term president! Jan]
- Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
- He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
- That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
- Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements.
- Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
- This is nearly double the government-spending low-point reached during the late 1990s by the Gingrich Congress and the Clinton administration.
- While not quite as high as spending levels in Western Europe, we regrettably will be gaining on this statist-planning approach.
- Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
- And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers.
- Industrial production is plunging, but new carbon taxes will prevent production from ever recovering.
- While the country wants more fuel and power, cap-and-trade will deliver less.
- Yes, the economy will recover. But Obama’s rosy scenario of 4 percent recovery growth in the out years of his budget is not likely to occur.
- The tax hikes will generate lower growth and fewer revenues.
- The combination of easy money from the Fed and below-potential economic growth is a prescription for stagflation. That’s one of the messages of the falling stock market.
- It is a return to the LBJ/Nixon era, and a move away from the Reagan/Clinton period.
- Essentially, the Obama economic policies represent a major Democratic party relapse into Great Society social spending and taxing.
- House Republicans, fortunately, are 90 days sober, as they are putting up a valiant fight to stop the big-government onslaught and move the GOP back to first principles.
- Noteworthy up here on Wall Street, a great many Obama supporters — especially hedge-fund types who voted for “change” — are becoming disillusioned with the performances of Obama and Treasury man Geithner.
  
  There is a growing sense of buyer’s remorse.
- Well then, do conservatives dare say: We told you so?
  Source URL: http://www.cnbc.com/id/29434104
- Posted By: Jan
  AfricanCrisis Webmaster
  Author of: Government by Deception

12 Jan 09

YouTube - NEW WORLD ORDER OUT OF CHAOS: THE COMING ECONOMIC DEPRESSION

www.youtube.com/watch - Preview

nwo 1930s depression 21st-century usa economy historical america wall-street banksters illuminati paulson bush-family end-time socialism

NEW WORLD ORDER OUT OF CHAOS: THE COMING ECONOMIC DEPRESSION
5 more annotations...
- THEYLIVE2012
  
  August 06, 2008
- Are we facing Financial Armageddeon?
- I can't say I've ever lived through a Depression, but it sure looks like I will be in the near future, and it doesn't look like some major event is going to be avoided, and as always, the perpetrators will be the saviours once again, bringing the world under a more centralized framework, and thus begins the cashless society and the end of the middle class in the west, and hello to Socialism on a grand scale
- It would be nice to envision a society who stands up to this constant raping of our God given rights as Humans to exist on a planet, but really, I try to talk to people all the time who don't know or care what's going on, and the conclusion I come to is that things will get a lot worse before they get better....
- I don't know if it's the TV or the flouride in the water, but I find people have turned into such greedy, callous, petty, little swines...Just look at the faces of people next time you walk down a street...the air of self importance, wearing sun-glasses in the rain, googly eyed & eared over their Blackberries & radiation phones..feels like humanity lost, into a vortex of materialism and illusion.

09 Oct 08

Page 2: Rock Out With Your Bailout - October 7, 2008

Page 2 of the bill you paid for out of your pockets.

www.thesmokinggun.com/...1007083aig2.html - Preview

aig bailout congress wall-street tax-payers us-government cronies pals banksters gangsters spa california vacation

< 1 2 >

Page 1: Rock Out With Your Bailout - October 7, 2008

Invoice of AIG Executives tab for a week's vacation on your tab

www.thesmokinggun.com/...1007083aig1.html - Preview

aig week vacation executives bailout spa bill california tax-payers paid congress wall-street paulson-cronies tax-dollars

Rock Out With Your Bailout
After government rescue, insurance firm AIG partied at swank resort
2 more annotations...
- OCTOBER 7--Days after federal officials agreed to an $85 billion bailout of American International Group, the insurance firm spent more than $440,000 for a corporate retreat at a swanky California resort. An invoice from the week-long getaway, a copy of which you'll find below, was obtained by the congressional panel that has been holding hearings this week about Wall Street collapses and executive excess.

07 Oct 08

Oct 7, 2008 All Fall Down James Howard Kunstler 321gold

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james-h-kunstler friday deadline bailout failure europe wall-street congress boondoggle swindle americans usa food-shortages gasoline-rations society emergency martial-law

All Fall Down
James Howard Kunstler

Author of The
Long Emergency

Oct 7, 2008
42 more annotations...
- God knows what manner of deals
  went down this past weekend in the Hamptons wine cellars and
  below-decks among the Chesapeake Bay sailboat fleet. All these
  hidey-holes must have been dank and fetid with the sweat of mortal
  fear.
- Will the US Government declare itself a subsidiary of General
  Electric? Will Vlad Putin be roped in to save Goldman Sachs?
- Meanwhile, the whole noisome rat maze of international counter-party
  deals was taking on sewer water and rodents of every nationality
  were seen leaping for daylight all over the fusty old motherlands
  of Europe.
- A cascading collapse of international finance is underway.
  - Collapse of international finance - on 2008-10-07
  Add Sticky Note
- While many fixers may jump heroically into the tumbling wreckage
  hoping to rescue this-and-that, the outcome by Friday is liable
  to be an unrecognizable smoldering landscape of the G-7's hopes
  and dreams.
- Some big questions for the
  week: will the Euro survive as a currency? Will the rush into
  the US dollar continue even as the US financial system dematerializes
  in a Fibonacci fever of accelerating de-leveraged infinitude?
- Will the remaining Big Boyz, Goldman Sachs and JP Morgan succumb
  to the counter-party hemorrhagic fever?
- Will great rows of lesser
  banking dominoes now start clacking onto their faces?
- Will all
  fifty states follow the leads of California and Massachusetts
  and line up at the US Treasury's hand-out window.
- Will the entity
  that calls itself the civilized world be left at week's end with
  anything resembling money?
  - The "civilized world" and money - on 2008-10-07
  Add Sticky Note
- Your guess is as good as mine.
  We've entered the realm of phase change, where everything is
  slipping and nothing has settled.
- The final result, when the
  dust settles -- and that may not be for weeks to come -- will
  certainly be a poorer western world.
- Will it be so poor that
  it can no longer afford to import anything? Including oil from
  the land of the date palm? If so, we are really in for a rough
  ride, poised as we are at the edge of the heating season here
  in the temperate regions.
- Notice, by the way, that the $700 billion
  just approved by congress to bail out Wall Street is exactly
  the same sum of money that we send to the oil exporting nations
  this year.
  - The $700-billion bailout and the oil producing countries - on 2008-10-07
  Add Sticky Note
- Will millions stop receiving
  paychecks due to the turmoil in banking? It's certainly possible,
  starting with the poor drones in Mr. Schwarzenegger's motor vehicle
  bureau and eventually ranging to every payroll office in the
  land.
- Will Sarah Palin's fellow Six-packers line up around the
  parking lagoons of the suburban banks trying desperately to withdraw
  the last seventy bucks in their checking accounts? (And will
  their thoughts in the event be: this economy is fundamentally
  sound....)
- Will the supermarket shelves of chipoltle-flavored
  crunchy snacks and power drinks go empty as truckers refuse to
  deliver their loads without up-front payment?
- And how long does
  it take a hungry public to turn mean?
  - "Hungry public? - on 2008-10-07
  Add Sticky Note
- So far, gasoline shortages have
  only appeared in parts of the Southeast USA, due to interruptions
  caused by two hurricanes. If the oil tankers quit offloading
  now for lack of credible payment, then the whole nation will
  get an interesting lesson in the shortcomings of the suburban
  development pattern.
- We could see a parallel problem
  in the motor fuel supply sector.
- The candidates' debate Tuesday
  night should be interesting. I don't expect too much give-and-take
  on the subject of East Ossetia this time around.
- Even at this point, the current
  crack-up in world finance makes the 1929 crash and the events
  of the 1930s look in comparison like an orderly small town auction
  of somebody's grandmother's effects.
- Back in that sepia day,
  America had plenty of everything except ready cash. We had, especially,
  plenty of our own oil, and -- you're not going to believe this
  but it's true -- the stuff was selling for as little as ten cents
  a barrel, it was so abundant.
- And yet still, America in the 1930s
  plunged into a dark depression of inactivity, loss of confidence,
  and impoverishment.
- Personally, I think we may be beyond the
  reach even of fascist authoritarianism, because unlike the programmed
  industrial masses of the 1930s, we are unused to regimentation,
  to lining up at the factory gates and the movie theaters.
- This time around, things could
  get more disorderly.
- Back
  then, society was so regimented that everybody wore uniforms
  in-and-out of the military.
- Look at movies from the 1930s. Every
  man-jack wore either a necktie and hat or overalls. The industrial
  masses behaved like termites. Once unemployment hit, they were
  waiting to be told what to do, to line up for something.
- It worked
  fabulously for Hitler, who took every advantage of this mentality.
- Luckily, the US went for Roosevelt (both FDR and Hitler entered
  office the same winter of 1933, by the way).
- FDR was more like
  everybody's kindly Uncle Frank, and his reassuring persona enabled
  Americans to suck up their bad luck and altered circumstances.
- Many of them retreated to the family farm (which still existed
  then) and waited things out -- and, anyway, the melodrama of
  the Great Depression soon resolved in the Second World War when
  Hitler's love of regimentation led him into military misadventure.
- He shouldn't have picked a fight with someone who had so much
  petroleum -- end-of-story.
- To this point (9:am Monday October 6, 2008) events have
  been proceeding under a veneer of still-just-barely-credible
  authority. We (as represented by congress) have allowed Mr. Paulson
  to advance and activate his remedies.
- Okay, what happens here and
  now?
- As things unspool further,
  he will be out of credibility, perhaps in a few days, and it's
  unlikely that his successor will have any either.
- Mr. Bernanke
  has simply gone AWOL. Notice, he has vanished from the media
  landscape.
- We may soon be hearing the declaration of various
  "emergency" measures involving the allocation of food
  and the rationing of oil products.
  - Food rationing and also of gasoline? - on 2008-10-07
  Add Sticky Note
- The Big Bailout of last week
  may be partially rescinded as it becomes obvious that it has
  had no effect -- I believe about half the $700 has already been
  allocated, which is to say: lost.
- I realize these things sound
  pretty extreme. But forces have been set in motion and momentum
  rules.
- One thing for sure: the American public is about
  to undergo a severe mood adjustment. There will be fewer American
  Idol fans and worshippers of Donald Trump by the close of business
  on Friday.
  - Friday's deadline? - on 2008-10-07
  Add Sticky Note
- Oct 6, 2008
  
  James Howard Kunstler
  
  email:
  kunstler@aol.com
  
  website: www.kunstler.com

06 Oct 08

Financial crisis: Stock market suffers its worst fall in history - Telegraph

www.telegraph.co.uk/...its-worst-fall-in-history.html - Preview

london britain europe stock-markets wall-street ftse stock-exchange uk global crisis financial alistair-darling chancellor parliament

Financial crisis: Stock market suffers its worst fall in history
The UK stock market has suffered its worst one-day fall in history as the banking crisis intensified.
16 more annotations...
- By Robert Winnett, Deputy Political Editor
  
  Last Updated: 10:40PM BST 06 Oct 2008
- The FTSE-100 index of Britain's biggest companies dropped by 391.06 points -
  its steepest ever fall - to end the day down 7.9 per cent.
- The FTSE's tumble was mirrored across Europe, as markets in France, Germany,
  Italy and Spain all recorded heavy falls.
  - Dominoes - on 2008-10-06
  Add Sticky Note
- On Wall Street, the panic drove the Dow Jones Industrial Average down through
  the 10,000 level for the first time in four years.
- The mild euphoria that
  greeted the passage of the $700bn bail-out of Wall Street on Friday
  evaporated as traders digested the more bad news from Europe.
- The Dow Jones Industrial Average fell as much as 800 points during the
  session, slipping below the key psychological level of 10,000 for the first
  time since 2004.
- Just after the closing bell, the blue-chip index was down 340.49 points (3.30
  percent) at 9,984.89.
- A statement by Alistair Darling, the Chancellor, to Parliament failed to calm
  nerves with the stock market taking a further dive as he spoke.
- The Chancellor refused to outline firm plans to deal with the crisis –
  however, he confirmed the Government was working on a radical scheme which
  could be implemented in the coming weeks.
  - What scheme? The "Mark of the Beast" embedded in your forehead or hand and food rationing? - on 2008-10-06
  Add Sticky Note
- European leaders issued an unprecedented joint statement pledging to do
  whatever is necessary to help struggling financial markets.
- An increasing number of Governments across Europe are offering to guarantee
  the deposits of both households and companies as fears that further banks
  will fall escalate. Those fears prompted more panic selling of shares.
- Mr Darling acknowledged that financial disruption had "intensified"
  over recent weeks and spread to all parts of the world.
  - Global - on 2008-10-06
  Add Sticky Note
- The Government had made available more than £100 billion of long-term lending
  and was willing to make further resources available as necessary.
  
  "Our aim is to reduce uncertainty and improve confidence in financial
  markets," he said.
- The "process of change" would take time to work through and would
  require action not just at national level but internationally too.
- "It would be irresponsible to speculate on the specifics of future
  responses," he said. "Providing a running commentary could add to
  uncertainty in already febrile market conditions.
  
  "But all practical options must remain open to us."
- He added: "These are exceptional times and I'm in no doubt as to the size
  of the task facing us, and governments across the world, in bringing order
  to the financial system.
  - Kiss their "selected man", the Antichrist's butt and it will make it all better? - on 2008-10-06
  Add Sticky Note

Tomorrow The Coup?

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

george-bush coup america us-government bailout looting tyrants wall-street congress senate paulson federal-reserve tax-payers fascists nwo

Tomorrow The Coup?
Jim Kirwan

10-6-8
47 more annotations...
- Tomorrow, October 7, will mark the end of our first week
  into the Coup that officially began on the first day of this month. This
  coup actually slipped out from behind the curtain way back in September
  of 2002 when Congress officially gave this 'License to Kill' to the president
  of the United States!
- "Since this man came to office the congress of the
  United States has failed in its duties to the public you are sworn to
  serve and to the Constitution you have sworn to uphold.
- In instance after instance you have entertained and passed
  a steady stream of un-American laws and resolutions that are squarely
  aimed at undermining the Constitutional provisions of the Bill of Rights
  and many of the Amendments to the Constitution, which are matters of
  existing law." (1)
- What has happened since has shattered any and all ideas
  of what the United States may have once been, as well as what options
  might remain, "going forward;"
- because under the terms of this
  Coup "illegality" has been made legal.
  - Lawlessness and criminality on the part of officials of the U.S. Government - on 2008-10-06
  Add Sticky Note
- What this has done is
  to include the citizens of theUnited States in those 'states or nations'
  (above) that could be seen as enemies of this Coup!
  - Government targeting the American people - on 2008-10-06
  Add Sticky Note
- Naomi Wolf has a thirty minute video, just out today,
  that summarizes much of what has happened, as well as what we can do to
  begin to turn all this around.
- She says in part: 'military law suspends
  civilian law, so we must get our local city councils to reject the Homeland
  Security money that is being offered to train local police to make war
  against US citizens
- Homeland Security is funneling money to communities
  in advance, to pay off the lawsuits that will come from the actions of
  these coup agents. (This happened in both cities where recent conventions
  were held).
  - Local community officials being bought off.. - on 2008-10-06
  Add Sticky Note
- This was made possible by the 2007 Defense Authorization Act
  which made it legal for the president to direct troops to make war against
  American citizens.' It was one thing for soldiers to disobey illegal orders
  in his wars, but this action makes the illegal orders of this president
  'legal'!
- 'Those in government that are complicit in this Coup
  must be held responsible and their leaders arrested. There are District
  Attorney's (Vincent Bugliosi & others) that want to do this now.'
  - Arrest the coup members; their aiders and abetters and those complicit in the raising of tyranny over the American people..: then indict, prosecute and sentence them all - on 2008-10-06
  Add Sticky Note
- 'Before the Revolutionary War, George the Third, the
  English King sent mercenary troops to occupy and police American streets;
  doing the same thing that Bush just created by authorizing three to four
  thousand troops to police the actions of American citizens, (in America).'
- 'We must stand against tyranny and oppression, because
  our right to freedom is a universal right: "When a tyrant looms,
  the structures of tyranny loom," and we have to do everything to
  oppose that tyranny!
- You are not "entitled" to speak freely;
  you are obliged to speak freely!
  - Obligation to speak freely; not entitled - on 2008-10-06
  Add Sticky Note
- You have to act as an American and Speak
  Freely! We must see this Coup for what it is and rise up against it.'
- When the War on Terror began, the first casualty was
  the designed loss of our inner-freedoms.
- This is what was really attacked
  on 911, and it is something that has continued to lose ground ever since
  that black day.
- 'We were free because of our practice of the rule of law.'
  Now that Rule of Law has been perverted and on many occasions shattered;
  we must rise up now and take back 'the laws' that were part of our former
  Republic.
- Naomi Wolf continues: "America has no established
  god" and this is so important because these people are (now) seizing
  power in the name of Theocracy.
- They are using (religious) faith as a
  mobilizing tool, Sarah Palin would extend this.
- {The tax-exempt status
  of the churches needs to be re-examined, because that status is granted
  only if those churches are not political}
  - Removing the tax exempt status of the Churches? - on 2008-10-06
  Add Sticky Note
- The founders wanted to insure
  that ours was a country of religious freedom, where people were free in
  their conscience (to decide for themselves about their beliefs), because
  they knew what happens when religious minorities are prosecuted by the
  state.' So, (according to the first Amendment), Americaestablishes 'No
  god.'
- 'The idea of America is that freedom is a universal human
  right so we must divest ourselves from this empire and become a
  Republic once again.'
- All of this begins psychologically (as a thought-form)
  that we must take into our hearts-and each of us is called upon to stand
  up for freedom!'
- 'The good news is that historically when millions of
  people have risen up in time, they can together move aggressively to arrest
  those responsible and most of the Cabal.
- You have to get warrants, get
  their computers, and you have to declare what has taken place. Once these
  people are charged they will back-off and begin to turn on one-another.
  The time to act is now!' (2)
- However there is another entire dimension to this takeover,
  which is the very public yet still very secret, seizure of financial and
  monetary powers of the nation and by extension the world.
- In case you
  missed it we have surrendered our control over the purse strings of this
  country to a bunch of self-interested and self- appointed members of the
  Cabal.
  - The NWO banner carriers of the Illuminati - on 2008-10-06
  Add Sticky Note
- Without control over the printing of our own money, which we lost
  with the establishment of the Federal Reserve Bank: we are little more
  than vassals to the owners of the twelve privately owned Central Banks.
- To that criminal act we must now add the surrender of control over how
  this fiat money of ours shall be spent-by whom and for what-without knowing
  how much this will cost, or even IF this process will even begin to solve
  the problems created by the same people that are now administering the
  law that was passed last Friday!
- To probe these various financial and fascistic shadows
  behind this latest outrage: Naomi Klein has an extensive interview today
  on Democracy Now.
- "NAOMI KLEIN: When Milton Friedman turned ninety,
  the Bush White House held a birthday party for him to honor him, to honor
  his legacy, in 2002, and everyone made speeches, including George Bush,
  but there was a really good speech that was given by Donald Rumsfeld.
  I have it on my website. My favorite quote in that speech from Rumsfeld
  is this: he said, "Milton is the embodiment of the truth that ideas
  have consequences."
- So, what I want to argue here is that, among other things,
  the economic chaos that we're seeing right now on Wall Street and on
  Main Street and in Washington stems from many factors, of course, but
  among them are the ideas of Milton Friedman and many of his colleagues
  and students from this school. Ideas have consequences."
- This Coup that is only six days old is a very through
  entrapment by traitors that was designed to so completely crush America
  and Americans in order to prevent us from ever taking back this nation.
  - The move by Paulson and Bush and...the Senators and Congressmen who voted "YES" for the bailout, was and is an attack on every American citizen! - on 2008-10-06
  Add Sticky Note
- This is so important to them; because they know that America is the one
  nation that actually had the capacity to shut them down and lock-them-up.
- Last night on 60 minutes, the real cause behind the most
  recent collapse was also unveiled, in a story called "Wall Street's
  Shadow Market" This is the story of a $60 TRILLION dollar fiasco
  that sought to make gold-plated investments our of those totally bogus
  mortgages; which the Slush-Fund was passed to bailout.
- This failure is
  described as 'A full blown financial storm'
  
  in the 60 minutes story: but how far do you think $850
  Billion will go toward solving the reality of a $60 Trillion dollar problem!
  (4)
- This Coup was created to take-back everything that Americans
  once stopped the ancestors of this Coup from obtaining, back in 1933,
  when FDR stopped them from profiting by the first version of this obscenity!
  - FDR and 1933 - on 2008-10-06
  Add Sticky Note
- If we could take back the power of printing and controlling our own money
  (like every other self-respecting nation has tried to do): then most of
  this could never have happened in the first place.
- We need to come out
  from under our beds and get this together people or we really will
  be nothing but slaves to these tyrants and traitors that dreamed this
  nightmare into existence - on the backs of every one of us - who is not
  one of them!
- It's way past-time, but if we get serious it might still
  not be too late!
  
  kirwanstudios@sbcglobal.net
- 1) Open letter to Congress September 2002
  
  http://www.kirwanesque.com/politics/articles/2002/art0.htm
- 2) Interview Naomi Wolf Give Me Liberty 30 min.
  video
  
  http://www.youtube.com/watch?v=_XgkeTanCGI
- Rep. Brad Sherman
  
  http://www.youtube.com/watch?v=HFstmclOQG8
- The Warrior Creed Robert Fisk 3 minute Video
  
  http://www.tewahanui.info/wordpress2/?p=761
- 3) Naomi Klein Democracy Now
  
  http://www.democracynow.org/2008/10/6/naomi_kle in
- 4) Wall Street's Shadow Market
  
  http://www.cbsnews.com/video/watch/?id=4502673n

Last Trumpet Newsletter - October 2008

www.lasttrumpetministries.org/...October2008.html - Preview

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“And I will shew wonders in heaven above, and signs in the earth beneath; blood, and fire, and vapour of smoke. The sun shall be turned into darkness, and the moon into blood, before that great and notable day of the Lord come: And it shall come to pass, that whosoever shall call on the name of the Lord shall be saved.”

Acts 2:19-21
In this issue of the Last Trumpet Newsletter, we will use our God-given knowledge and discernment to look at our nation, which is now in a condition such as it never was before. We are living during a time of change, transition, and metamorphosis; and it is not for the good.
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- We are seeing a major shift in the prevailing spiritual wind, which is bringing with it the very essence of antichrist as never before.
- For a very long time, we have been watching major erosion and deterioration of all of the old and established institutions, morals, and spiritual fiber that brought America to its erstwhile greatness.
- These foundations are rapidly being pulled away, and they are disappearing without a trace among our new, younger society. The youth of our nation have no reference point to the past and no index of the future as they wander through the corridors of antichrist and illuministic deception.
- There is such confusion and so many mixed signals that most people will not utilize the mental energy to even think about what is happening to them. We have been told continually that things are not that bad and everything is going to get better.
- The current American society has never known hard times, and most look at you in disbelief if you tell them hard times are coming.
  - True - on 2008-10-06
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- The Almighty is now bringing trouble upon our land as a wake-up call. We are a nation in trouble, and we are stricken with one disaster after another! We are hearing some politicians say, “God is on our side,” but how can that be true if we are not on God’s side?
- When people refuse to acknowledge reality, there is nothing left for them but deception, and most people will never wake up until reality hits them squarely in the face.
- The return of our Lord and Saviour, Jesus Christ, will bring Judgment Day, and everyone will be there. Judgment Day will be a day when all deception, concealments, and cover-ups will be gone. It will be a day of stark reality for everyone. Then comes the reality that you will spend eternity somewhere.
- We know that very soon the ultimate reality is going to hit everyone squarely in the face.
- If you are reading this, there is still time to repent, and the Saviour will hear you. He will not turn you away! Do it now, while the clock is still ticking!
- You will be either in the Kingdom of Heaven or in a state of eternal damnation.
- What Happens When an Economy Dies?
- What is the current reality of the economy of the United States of America? When we drive from city to city, we see numerous closed and empty businesses and factories. We see the countless “for sale” signs and the shaggy lawns of houses that have been abandoned to foreclosure. We see the trail of thieves and vandals leaving their ugly scars upon once beautiful neighborhoods.
- We are losing half a million family-supporting manufacturing jobs every year, totaling more than three million such jobs since George Bush took office.
- The median income for American families, adjusted for inflation, has been dropping continually.
- Forty-seven million Americans have no health insurance, and for those who do have it, the cost has doubled. (1) Countless millions of Americans are hopelessly in debt and have no money that isn’t spent before they earn it.
- Americans are not managing money, they are juggling debt.
- The average credit card interest for the year 2007 was 19%, and mailboxes are stuffed with new credit card offers every business day. Banks and other institutions are now mailing one billion credit card offers every month! It is also a sad fact that with interest and late charges, many people are paying 33% interest and fees on their balances! (2)
- In California, foreclosures on homes were up 261% over last year, and the problem is getting worse.
- (3) When people are in such bondage and are oppressed by the banksters, judgment will surely come on the entire system. We read of this in James 5:1-6 as follows: “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days. Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of Sabaoth. Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter. Ye have condemned and killed the just; and he doth not resist you.”
  - Being fulfilled - on 2008-10-06
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- We are now seeing the very fulfillment of Bible prophecy as the Almighty is sending measured judgment on the corrupt banking system of the United States of America.
- We must remember that the death of the U.S. economy will bring forth the final stages of antichrist domination and the final fulfillment of prophecy.
- We know that in all of recorded history, no government has ever outlived its economy. When the economy dies, so does the government, and a new one rises in its place.
- The new world order will have an entirely new and different economy with electronic currency and wealth control that will enslave all humanity, but Almighty God will cut it short! Can any thinking person doubt that this is happening before our very eyes?
- (4) On August 19th, 2008, the London Times reported that the former International Monetary Fund chief, Professor Kenneth Rogoff, warned of imminent high-profile casualties among American banks.
- On July 22nd, 2008, the banking giant Wachovia reported a loss of 8.9 billion dollars and cut 6,350 workers.
- (5) Then came the Federal bailout of the mortgage giants Fannie Mae and Freddie Mac, which is another heavy burden on the taxpayers of this country. To facilitate this rescue of a failed mortgage system, the ceiling on the national debt had to be raised to an unthinkable amount of $10.6 trillion dollars. (6)
- On August 19th, 2008, the London Daily Telegraph reported that the M3 growth rate aggregates fell from almost 19% to 2.1% in three months, going below the rate of inflation. (7) M3 is the money supply index which our U.S. government had traditionally freely published, but recently refused to do so! Something very big, with lasting tragic effects, was about to happen!
- On September 11th, 2008, exactly seven years after the twin towers of the erstwhile World Trade Center were destroyed, a chain reaction of events began to take place, which will change our nation forever and will force a new antichrist economy to emerge.
  - The Antichrist economy - on 2008-10-06
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- On that day of September 11th, 2008, the giant Washington Mutual Bank fell below 2 dollars per share as the bank reported a 33.3 billion dollar loss. (8) Four days later the Washington Mutual stock was declared to be “junk” by Standard and Poor’s! (9) Conditions were soon to grow much worse!
- The wealth of our erstwhile great nation once rested on five giant banking pillars that were so large and powerful that they were thought to be invincible. Those five banks were Goldman Sachs, Morgan Stanley, Merrill Lynch, Bear Stearns, and Lehman Brothers.
- At this present time, only two of these are left. Bear Stearns was the first to go into insolvency. Then Merrill Lynch and Lehman Brothers fell into bankruptcy almost simultaneously. I was shocked and stunned as I watched all of this begin to happen. I had just returned from New York City where my wife and I went to pray and do research.
- We took the Staten Island ferry across New York Harbor, and as we passed the Statue of Liberty, I could see the numerous unmarked black helicopters circling the harbor. The U.S. Coast Guard gun ships were positioned there as well.
  - Black helicopters - on 2008-10-06
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- Once in Manhattan, we walked up Whitehall Street to Broadway, and as we neared Wall Street, there was the landmark that I had seen many times before. In the median where the two streets come together is a massive bronze bull, marking the entrance to the financial district. The Lord reminded me of the golden calf that the children of Israel danced around in a naked frenzy. It struck me that Wall Street and all of its banking houses that have been oppressing the people America and the world have been dancing in a naked frenzy and that soon the ground would open and swallow them up as well.
  - The wickedness of the Wall Street banking thieves - on 2008-10-06
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- We continued on to Federal Hall where the masses of people gathered and looked across the street at the banking giants with shock and disbelief when the crash came in 1929. Then the great depression hit and paralyzed our nation. Federal Hall was the first capitol building of the United States, and it was there that George Washington gave the first Presidential inaugural address.
- As I looked across the street, I saw the New York Stock Exchange and Rockefeller’s personal bank, the Bank of New York, next to it. Both of these massive buildings had black iron fences set up in the streets with special police and guards armed with high-powered automatic weapons positioned about every ten or fifteen feet.
  - Rockefeller's bank and the NY Stock Exchanged: iron fencing and armed guards. - on 2008-10-06
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- A strange feeling came over me and I felt compelled to pray. We walked over to the giant Lehman Brothers building and sat down directly in front of it. I remembered the history of this financial pillar that was immensely successful since the days of the illuminist Jacob Schiff. I remembered the merger of this bank with Kuhn Loeb and Co., and I also recalled that this bank financed the communists Lenin, Trotsky, and Stalin and bankrolled the Bolshevik Revolution in Russia.
  - Lehman Bros and the 1917 Russian Revolution - on 2008-10-06
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- The evil in this bank was beyond comprehension, and there is so much more infamy in its history that cannot be mentioned for lack of space on these pages. As I sat there, the Spirit of the Lord came over me, and I began to pray, “Lord, thou knowest what they have done, what they are doing, and what they intend to do. Bring them down quickly, O Lord; let them fall into the hand of thy righteous judgment.”
- On Monday, September 15th, 2008, the mighty Lehman Brothers went into bankruptcy with debts of 613 billion dollars. (10) Merrill Lynch also went under and had to find a buyer for what was left of it. When I heard that the mighty Merrill Lynch became insolvent, I remembered their television advertisement stating, “Merrill Lynch is God.”
- On September 16th, 2008, the insurance giant AIG, American International Group, was facing a financial crisis as its stock went into a dive of 61%. This caused the shock waves on Wall Street, causing a drop of over 500 points in one day. (11) It was a near crash that was averted only when the U.S. Government bailed out AIG, which put the American taxpayers into deeper debt, involving countless billions of dollars.
- Many people are losing their retirement funds partially or completely.
- All of this negative activity has also caused every major stock exchange in Europe to plunge, (12) and some experts say we are very close to a worldwide depression.
- Recently, financial expert Wilbur Ross, CEO of WL. Ross Co., recently stated that it is likely that one thousand banks will close in the next several months. (13)
- It is a sad fact that our national debt as of September 11th, 2008, was $9,695,974,762,677.63. (14) It will soon be over ten trillion dollars. How large is that debt? We know that light travels at a speed of approximately 186,000 miles per second. Thus, light traveling in a straight line could circle the earth seven and one-half times per second. At that speed, light would travel six trillion miles in one year. Our national debt, at nearly ten trillion dollars, is truly astronomical, and it will never be paid.
- When our Federal Reserve Chairman, Ben Bernanke, was asked where he invests his personal money, he admitted that much of it was in Canadian Treasury bonds! (15)
  - Where the Federal Reserve Chairman Bernanke invests his money? IN CANADIAN BONDS!! - on 2008-10-06
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- The Rise of Strange Forces!
- It is a Presidential election year in the United States, and strange forces are at work both in our country and elsewhere in the world.
- There are two predominant forces rising at this time: one is radical, militant feminism, and the other is Islam, the Moslem religion.
- In Germany, a land where Barack Obama is greatly admired, Chancellor Angela Merkel has once again been named “the most powerful woman in the world” by Forbes Magazine. (16)
- As revealed in a previous issue of this newsletter, Angela Merkel is likely the biological daughter of Adolph Hitler by artificial insemination. This was discovered in records by the Russian doctor in charge of the project. Merkel loves the militant music of Wagner, such as “The Ride of the Valkieri”, just as Hitler did. She even looks like Hitler except for the mustache. This is the woman who has been and is the driving force that is uniting the European Union. She is very militant and determined in her efforts.
  - Is Angela Merkel Hitler's biological daughter? - on 2008-10-06
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- In the United States a strange feministic spirit has recently arisen in the person of Alaskan Governor Sarah Palin.
- Many people have been deceived by this woman who presents herself as a combination of a “hockey mom and pit bull.” The Illuminati is using this woman, who loves to shoot not only rifles but also high-powered automatic weapons. She makes bold speeches, even threatening to get tough with Russia and go to war with them if necessary. She plainly stated this to anchor Charlie Gibson on the World News Tonight show as mentioned on CNN on September 12, 2008. (17)
- Palin also made it clear that God ordered us to go to war with Iraq. She is echoing the words of George Bush when he said, “I am driven with a mission from God. God would tell me, ‘George, go and fight these terrorists in Afghanistan,’ and I did. And then God would tell me, ‘George, go and end the tyranny in Iraq,’ and I did.”
- Palin made similar statements about “God’s war” while attending the Wasilla Assembly of God Church. (18)
- According to I Peter 3:4, a woman is to have “a meek and quiet spirit, which is in the sight of God of great price.” There are very few of those women left in our country, but they are the ones who are powerful in prayer, and God’s hand is upon them.
- Wherever Sarah Palin goes, she draws much larger crowds than McCain. The contest has taken on strange contrasts as Palin eclipses McCain in popularity.
- The other great force that is rising up, not only worldwide but especially in the United States, is Islam, the Moslem religion.
- In Chechnya, President Ramzan Kadyrov will soon inaugurate the largest mosque in Europe. This mosque will accommodate 10,000 worshippers. (19) Such super mosques are springing up rapidly world-wide.
- Sharia courts, which are special courts that administer Moslem laws and punishments, have been set up throughout England and are honored by the British Government. (20)
- Moslems are being given special privileges everywhere, and this religion is a rising force that is rapidly seizing the world. Could this Islamic force seize control of the United States?
- The article points out the Muslim roots of Barack Hussein Obama. (21) It is a fact that Obama comes from a Moslem family, grew up with Moslems, and attended a Moslem extremist school as a child and seems to have the backing of many prominent Moslems.
- The September 1st, 2008, issue of Newsweek Magazine featured a story entitled: “So What If He Were Muslim.”
- We also know that according to Federal Election Commission records, some of the massive amount of campaign money raised by Obama has come from radical Moslem extremist groups that are under active investigation for terror financing. These contributions have been accepted and not returned. One donor was Jamal M. Barzinji, who was investigated for the 9/11 attacks, as was Obama’s top Muslim advisor, who recently resigned from Obama’s campaign. (23
  - Muslim extremists and the Obama campaign - on 2008-10-06
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- Obama gave his acceptance speech from a stage that replicated an ancient Greek Temple as if he were some kind of god. (22)
- Why are Islamic extremists and terrorists supporting Obama for President of the United States? Do they know something about him that we don’t know? Is there a Moslem heart beating inside of Barack Hussein Obama?
- We can most assuredly say that Obama is a Moslem, because he admitted it by mistake in an interview with George Stephanopoulos on ABC News. When Stephanopoulos said, “But John McCain said the same thing about questioning your faith,” Obama replied with the following words: “……You’re absolutely right that John McCain has not talked about my Muslim faith. And you’re absolutely right that that has not come up.” At that point, Stephanopoulos tried to correct him by saying, “Christian faith?” Obama quickly replied, “Christian faith.” (24)
  - Obama's freudian slip of the tongue - on 2008-10-06
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- Occult Forces in Overdrive!
- On September 22nd, 2008, we will enter a strange time of occult power that continues through October 31st, which is Halloween.
- The many thousands of witches practicing their craft in the United States and Europe know what this means, and they are trying to change the world with their spells and rituals during this time.
- This September 22nd is their sabat of Mabon, which is the festival of the “Dark Mother” or the Crone. It is a time when waxing darkness is celebrated.
  - The "sabat of Mabon" - on 2008-10-06
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- That same day of the autumnal equinox is celebrated as the witches’ Thanksgiving, called Harvest Home.
- The period of time between September 22nd and October 31st is a time of great spiritual mischief, and only a few days later is Election Day. I mention all of this because the United States of American has been given over to witchcraft, and thus, the people who involve themselves with it are without protection and are subject to its influence.
- The Harry Potter books and movies have contributed much to the proliferation of evil spirits even though many churches defend these materials.
- No Christian should have any involvement with any such things and should especially avoid Halloween. It is the Devil’s business and it is serious. It is no joke! Wiccan witchcraft is the force behind the forces that are destroying our country!
  - Halloween - on 2008-10-06
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- Much could be said about the moral decay in our nation, but one example indicates how far gone we are. The state of California is no longer recognizing brides and grooms. The new formula is, “Do you, ‘Party A’, take ‘Party B’ to be legally bound in union until dissolution do you part?”
- Since the California Supreme Court overturned the state’s ban on same-sex marriage, certificates of marriage have been modified to read “Party A and Party B.” In one case, the Placer County Clerk’s Office denied a marriage license, because the minister altered it to read “bride and groom.” The license was sent back to the minister who officiated at the wedding with the following attached statement: “Does not comply with California State registration laws.” (26)
- California will see God’s wrath soon!
  - California flaunting it's sins in God's face - on 2008-10-06
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- Illuministic Health Mismanagement!
- In a recent report by Medical News Today, it was stated that 79 million Americans have medical bills that they cannot pay. (27) Many of these bills are large, and people are being brought to poverty and homelessness because of it!
- According to USA Today, drug prices are up 100% and some as much as 1,000%. (28) We have a shameful and corrupt health care system in our country.
- We have now learned that the American Academy of Pediatrics is actively promoting the use of statin drugs for children as young as eight years of age. Statin drugs are known to damage muscles, including the heart, and to cause fatigue. (29) Why do doctors not know how to make children healthy without giving them pills? There are only two possible answers to that: either they are very ignorant or very evil!
  - Exactly!!! - on 2008-10-06
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- We have runaway epidemics of diabetes, autism, hypertension, cancer, and so on.
- Something is very wrong with the establishment “health care” system in America.
- The following words were submitted to me by a certified natural health professional or CNHP: “Dr. Robert Mendelsohn often criticized modern medicine for its sanctimonious doctrine. He argued that doctors are the priests who dispense holy water in the form of inoculations to ritually initiate our loyalty into the larger medical industry. Dr. Richard Moskowitz agrees. ‘Vaccines have become sacraments of our faith in biotechnology. Their efficacy and safety are widely seen as self-evident and needing no further proof.’
- Others see a link between vaccinations and satanic rituals of witchcraft, where animals are sacrificed and their organs brewed in a hellish concoction of horrid substances: voodoo medicine by 21st century mad scientists. Sadly, our children are their unwilling subjects as society is slowly devoured by their insatiable appetite for human experimentation.”
  - NWO medical industry - on 2008-10-06
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- I am drawing upon forty-five years experience as an avid student of chemistry and physics when I say that radiation breaks down and disassembles organic compounds into free radicals and destroys all nutritional value of food.
- We have now learned that the Food and Drug Administration has approved zapping lettuce, spinach, and other greens with radiation.
- We should also note that the radioactive waste that is used to irradiate food may kill bacteria, but not viruses. (30) Truly, we live in a polluted land, and I pray that God will give us wisdom and faith.
- Final Warnings From Above!
- In recent weeks we have been hit by hurricanes and major tropical storms, and there is a message from the Creator in them.
- Almighty God is speaking loudly and clearly, but are the people of America listening?
- We know that the National Oceanic and Atmospheric Administration uses alphabetical order to pick names at random for the sequential naming of hurricanes and tropical storms. Without a doubt, God is acting in accordance with the meanings of these names to send us a message!
  - God meeting us at our name playing storms? - on 2008-10-06
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- When Hurricane Gustav hit our country, it was no small storm, and it left a considerable amount of damage in certain areas. The name Gustav comes from the Old Norse and means “staff of the gods.”
  - Meaning of "Gustav" - on 2008-10-06
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- In the old Norse religion there was a trinity, or three primary gods, named Wodin (Odin), Thor, and Frey. From those three words we derive the words Wednesday, Thursday, and Friday.
- The high priest in the Old Norse, or Viking temple was called the “gouda.”
  - The "gouda" - on 2008-10-06
  Add Sticky Note
- This man held a staff in his hand as he stood before the three gods in the shadowy temple with only cauldrons of fire and torches for light. That staff was called a “Gustav.” When the priest lifted it and pounded the floor three times, it meant that the gods had decreed whatever was to be done.
- After Hurricane Gustav had come and gone, there were two more hurricanes to quickly follow.
- Hurricane Hanna struck our coast and traveled up our Eastern seaboard. We even got hit with some of Hanna’s activity as a tropical storm in New York City while we were there; including heavy rain, some flooding, and sustained winds of over forty miles per hour.
- We know that in I Samuel, chapter one, a woman named Hannah wept before God for a child, and God saw her tears and heard her prayer. She gave birth to the prophet Samuel, who during his days saw Israel reject God in favor of an earthly king that would bring them into bondage and servitude.
- The name Hannah means “favored grace”, and Hanna was a mild hurricane by comparison. God was being gracious in the midst of his stern warnings.
- When Hurricane Hanna struck our coast with its heavy rains, the very heavens wept profusely over the East coast of our nation as the storm raced toward Washington, D.C.
- Our nation is a nation that is continually rejecting the one true God, and it is a nation that is now clamoring for a new President. Will this new President bring deeper sorrow and more bondage and servitude?
- The third hurricane in the series was Hurricane Ike.
- This hurricane struck hard as the frenzied storm devastated Galveston, Texas. That city was virtually wiped out. Nearby Houston was also hard hit, and some of the skyscrapers had every window knocked out. Flying metal and glass were everywhere. Millions were without power, drinking water, and other essentials. (31) President Bush’s home state was hit with shock and awe!
- What happens when the people of our country persist in their rebellion against Almighty God? What happens when they blaspheme him, ignore him, and persist in their iniquity and manifold sins? Hurricane Ike was a stern reminder that God will not be mocked and insulted forever by a rebellious nation such as this.
- Here let it be noted that the name Ike means “he shall laugh.”
  - The meaning of the name "Ike" - on 2008-10-06
  Add Sticky Note
- Just as Ike means “He shall laugh”, so we read in Psalm 2:4-5 as follows: “He that sitteth in the heavens shall laugh: the Lord shall have them in derision. Then shall he speak unto them in his wrath, and vex them in his sore displeasure.”
  - Psalm 2:4-5 - on 2008-10-06
  Add Sticky Note
- So much is happening so quickly, and the signs of the times are greatly overlapping each other.
- Numerous significant earthquakes with a magnitude of 4 or greater have been shaking our earth at an average of over 300 per month.
- On August 31st, 2008, a magnitude 6.1 quake rocked Red China. This was only one week after the occult Olympic Games closed. (32) God was speaking as he sent a major earthquake to that area both before and after the Olympic madness and idolatry.
- Two more major earthquakes struck on September 11th, 2008.
- A massive 6.9 magnitude quake rocked Japan, and a powerful 6.6 quake shook Indonesia. Both quakes were classified as strong by the U.S Geological Survey. (33)
- We should also be aware that a recent study by scientists at Columbia University reveals that New York City is in line for a major earthquake. New fault lines with some seismic activity have been discovered within two miles of the Indian Point nuclear power plant, just north of New York City. (34)
- In addition to the creation crying out, America going bankrupt, the hurricanes, the massive banks and businesses failing, and numerous other such things; we also have tragedies such as the fire in the tunnel that shut down the undersea tunnel connecting England with France. This happened on September 11th, 2008. (35)
- We also had a terrible train wreck near Los Angeles, California, when a Metrolink passenger train collided head-on with a freight train. Twenty-five people were killed and many others were injured. (36)
- The scientists working in Switzerland are gloating about a successful test with the Hadron Collider, which cost nearly nine billion dollars to build and is supposed to prove that the world was not created but got here by a big accidental bang.
- So far they have only tried this nuclear collider on low power. What will happen when they ramp up this massive nuclear monster that is seventeen miles in circumference? (37)
- Scientists have this to say about dark energy and matter: “Dark energy and matter remains elusive. Dark energy is weird, best thought of as an elastic, repulsive gravity that can’t be broken down into particles. We know what it does, but we don’t know what it is!” (38)
  - Dark matter - on 2008-10-06
  Add Sticky Note
- The device works with what scientists call dark energy and matter.
- In closing, I urge everyone, everywhere to pray. We are here to help you. Please send you prayer requests to us, and they will receive individual attention. Thanks to all of you who support this prophetic ministry. I pray you will be greatly blessed. Grace and peace be unto you in the name of the Lord Jesus Christ.
  
  David J. Meyer

04 Oct 08

Democratic Congressman: Representatives Were Threatened With Martial Law In America Over Bailout Bill

www.infowars.net/...031008Sherman.htm - Preview

martia-law threats congressmen congress bush criminal-administration illuminati evil-men despots wall-street banksters us-military americans usa nwo coup brad-sherman

Democratic Congressman: Representatives Were Threatened
With Martial Law In America Over Bailout Bill
19 more annotations...
- Warns that a panic atmosphere is intentionally being nurtured
  to get bill passed
  
- Steve
  Watson
  
  Infowars.net
  
  Friday, Oct 3,
  2008
- A Democratic Congressman has warned that a panic atmosphere is
  being intentionally created in order to get the financial bailout
  billed passed,
- further stating that several members of Congress
  were told before Monday's vote that martial law will be instigated
  in America if the legislation fails.
- Congressman Brad Sherman of California's 27th congressional
  district told the House in a speech yesterday evening that he
  personally knew of several Congressional representatives who have
  said they were threatened with the prospect of all out martial
  law should they vote in opposition to the $700 billion bailout.
- Sherman essentially intimated that powerful forces
  who want the bill passed have attempted to blackmail elected representatives.
  - Find the suckers; arrest their asses; hold them without bail or bond until brought to trial and then send them away to Gitmo for the rest of their lives!! - on 2008-10-04
  Add Sticky Note
- "The only way they can pass this bill is by
  creating and sustaining a panic atmosphere. That atmosphere is
  not justified." Sherman stated.
- "Many of us were told in private conversations
  that if we voted against this bill on Monday that the sky would
  fall, the market would drop two or three thousand points the first
  day, another couple of thousand the second day, and a
  few members were even told that there would be martial law in
  America if we voted no." The Congressman continued.
- "That's what I call fear mongering. Unjustified.
  Proven wrong. We've got a week, we've got two weeks to write a
  good bill. The only way to pass a bad bill is to keep the panic
  pressure on." Sherman urged.
- Watch Rep. Sherman speaking in the House yesterday:
- Sherman has been a member of the House of Representatives
  since 1997 and also serves on the Committee on Financial Services
  along with Texas Congressman Ron Paul.
- On the Eve of a second Congressional vote on the
  legislation, these revelations show that freedom in America is
  under direct attack.
- The Congress should instigate an immediate
  investigation into these serious allegations to uncover which
  private individuals and administration officials, if any, are
  involved with directly threatening a military takeover of the
  workings of the U.S. government.
- Sherman's comments follow those of Rep. Michael
  Burgess (R-TX), who warned
  Monday that the only information he had received
  about the bailout was what talking points to use on the American
  people and that he had been thrown out of meetings for not blindly
  supporting the bill.
- Ominously, Burgess also commented, “Mr. Speaker I understand
  we are under Martial Law as declared by the speaker last night.”
- Rep. Burgess appeared on the Alex Jones show earlier this week
  to discuss his comments. Subscribers, listen here.
- However, it must be stressed that the definition of martial law
  that Congressman Sherman is referring to is the full blown military
  suspension of the normal administration of justice, while rep.
  Burgess was referring to the temporary suspension of the rules
  and procedures of Congress by its leaders so that a bill can be
  passed quickly.
- Sherman's allegations of threats against elected representatives
  have also been echoed by outspoken political activist Lyndon
  LaRouche who told an audience "There are those
  in high positions who know that if they don't allow this bill
  to pass, that there are people behind the Bush Administration
  who will force them to pass it or kill them...".
- LaRouche
  stated that well placed sources had told him that the use of armed
  troops to enforce the passage of the bill is "reality".
  - If this be true, then there is no representative government left in America; the Constitution is in the crapper and these thugs, be they in the Criminal Bush administration or on Wall Street have pushed the envelope and we are all under a despotism of the Plutocracy. - on 2008-10-04
  Add Sticky Note

YouTube - You're Going To Guarantee A Depression!!! Ron Paul

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ron-paul congressman texas republican congress speech video bailout vote banksters nwo america us-government wall-street depression

You're Going To Guarantee A Depression!!! Ron Paul
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Category:
News & Politics

03 Oct 08

Andrew C. Wallace -- Avoid Civil War, Vote Out Political Criminals

www.newswithviews.com/...andrew14.htm - Preview

civil-war unrest america congress senate federal-reserve citizens bailout grand-theft wall-street george-bush criminals traitors us-government-vs-people

AVOID
CIVIL WAR, VOTE OUT POLITICAL CRIMINALS
By
Andrew C. Wallace

October 3, 2008

NewsWithViews.com
33 more annotations...
- “For
  the first time in my adult life I am proud of my country”-men
  for becoming a little aware of how badly they are being manipulated.
- Officials in government, corporations and media, along with illegals,
  who caused this destruction, should plan on running for their very lives.
- Government officials who refuse to comply with the Constitution and
  desires of the People have no legitimate power, they are Criminals,
  Rogues, Usurpers and Traitors.
  - True! - on 2008-10-03
  Add Sticky Note
- It
  is now urgent that we vote politicians out of office who ignore demands
  of more than 75% to 90% of the people by unconstitutionally giving hundreds
  of billions of dollars to their corporate paymasters as follows:
- 1.
  Unconstitutionally allowing illegals to invade and remain for corporate
  profits, but at great cost to Americans in lost jobs, blood and treasure.
- 2.
  Unconstitutionally voting for so called Free Trade deals like NAFTA
  to eliminate American jobs for corporate profits.
- 3.
  Voting for 10 visa and other immigration programs to replace American
  workers.
- 4.
  Now voting for a 700 billion dollar bailout for both foreign and domestic
  corporations responsible for the meltdown. This is in addition to a
  much larger amount of credit being given by the Private Federal Reserve
  Bank without fanfare. All of this without Constitutional authority,
  while ignoring the demands and welfare of almost 100% of the people.
  Hundreds of Economists say this cash infusion will reward the greedy
  who caused and profited from the meltdown while prolonging it with additional
  losses for the people. The Senate in its arrogance just added another
  150 billion dollars to the bailout bill which included a lot of pork.
  - Vote the bastards out! - on 2008-10-03
  Add Sticky Note
- 5.
  The only possible result is massive inflation resulting in worthless
  money, economic collapse and extreme suffering by the people. This is
  a perfect plan for the left, leading to a communist takeover.
- 6.
  This could not occur without the treasonous exercise of unconstitutional
  authority and expenditures by government officials.
- This
  is the end game, where traitors take what they have not already stolen
  using the privately owned and unconstitutional Federal Reserve Bank,
  with support of corrupt rogue officials in Judicial, Legislative, and
  Executive branches at all levels of government who refuse to obey our
  constitution and laws.
- A few specifics of this Tyranny and high Treason
  are as follows:
- *
  Without actions by the unconstitutional Federal Reserve Bank this meltdown
  would have been impossible; it is privately owned by corporate elites
  using unconstitutional Federal Reserve Notes as currency to steal our
  assets and impoverish us.
- *
  The unconstitutional Federal Reserve Bank enabled and extended the Great
  Depression using deflation and their private owners bought what they
  wanted for next to nothing, and they are doing it again, but now they
  are using inflation..
- *
  This Criminal Conspiracy (RICO) of government, corporate and media has
  reduced the value of our unconstitutional money to the point where it
  now requires more than three times as many dollars to buy gold currency
  as it did in 2000, which effectively raised our cost of living and is
  reducing value of our pensions, savings and investments to zero.
- *
  Our Military and Police must refuse any orders from the rogue officials
  to deny citizens their Constitutional Rights or they may provoke a civil
  war and be tried as war criminals.
  - True! - on 2008-10-03
  Add Sticky Note
- *
  This destruction of our economy is caused by unconstitutional actions
  by government and the private Federal Reserve Bank. It is a failure
  of unconstitutional government socialism (fascism and communism), not
  free enterprise and capitalism.
- *
  Bailout of corrupt bankers and investors will be at great cost, unconstitutional
  and devastating to the people. A bailout would do nothing either for
  Money and Interbank Markets that are close to a systemic meltdown. Again,
  corporate elites take the profits and their employees in Congress shift
  losses to the people. Read Nouriel Roubini.
- *
  Fannie Mae, Freddie Mac, and everyone in real estate caused the meltdown
  and made millions. They were empowered by the private Federal Reserve
  Bank and unconstitutional laws to fund toxic mortgages and to donate
  millions to politicians. Banks were forced to accept a large percentage
  of unqualified loans.
- Our government paid ACORN and others millions
  to teach unqualified people, including illegals, how to game the system
  for mortgages and to commit massive voter fraud. This was not Capitalism,
  it was fraud, and another example of the failure of Socialism.
- *
  Stockholders in Fannie and Freddie lost everything, but our government
  protected the 376 Billion Dollar investment by China, with our money.
  - Typical of the U.S. Government in my life time - on 2008-10-03
  Add Sticky Note
- *
  Ron Paul, the only one in congress who understands Economics said; Congress
  should reject this bailout because it is an immoral theft from taxpayers,
  it is unconstitutional and bad Economic policy. It is also money down
  a rat hole and will only make the dollar crisis that much worse The
  true crisis is the pending collapse of the fiat dollar system. Ron Paul’s
  comments appear to be shared by every Economist in the country who is
  not associated with the criminals.
  - Ron Paul - on 2008-10-03
  Add Sticky Note
- *
  Much of what the Federal Government does is simply unconstitutional
  and the average citizen has no access to justice, none.
  - Exactly! - on 2008-10-03
  Add Sticky Note
- We must regain
  control of Congress so we can impeach and prosecute the criminals in
  all branches and levels of government.
- *
  The wealthy, everywhere in the world know what is going on and they
  are buying gold and silver bars and coins so fast that there is a serious
  shortage.
- Our
  government has unconstitutionally allowed Millions of Americans to be
  either murdered, killed, raped, robbed or molested by illegals so corporations
  could profit from cheap labor, mortgage scams and theft.
- The obvious
  objective is the continuing reduction in our standard of living to the
  point where Americans live and die homeless, hungry and in pain as slaves
  in the North American Union ruled by a Corporate New World Order.
- The
  traitors can only take my country over my dead body, and the bodies
  of millions of other patriots, American citizens are the most heavily
  armed and trained in the world.
- But, our objective is to defeat the
  traitors with the rule of law as long as we have sovereignty, before
  the people really feel the pain from the loss of everything and react
  with uncontrolled rage and bloodshed.
- Our
  own history and experience is proof that the solution to our problems
  is simple; comply with dictates of our Constitution.
- After
  reading this, if you think my use of “Criminal, Usurper, Rogue
  and Traitor” are not proper descriptive terms for most politicians,
  then you are a brainwashed fool.
- This
  was only meant as an outline so you could see the big picture, those
  who desire the brutal truth in great documented detail should read recent
  articles by these experts:
- Alan Stang, Devvy Kidd, David Stoddard, John
  Slagel, Michael Cutler, Greg Evensen, Jim Schwiesow, Dennis Cuddy, Frosty
  Wooldridge, Dave Daubenmire, Tom DeWeese, Jon Ryter, Deanna Springola,
  Lynn Stuter, Berit Kjos, Betty Freauf, Cliff Kincaid, Chuck Baldwin,
  Edwin Vieira, CJ Graham, Joan Veon, Patrick Wood, Laurie Roth, Michael
  Shaw, Niki Raapana, Dennis Cuddy, et al.

YouTube - Goldman Sachs Bribed Senate To Pass Bailout Bill

The receivers of Wall Street bribes...America's "godling", Obama is on the bought and paid for list.

www.youtube.com/watch - Preview

barack-obama bought-off paid-for wall-street congress senate debt tax-payers banksters video traitors crooks sleaze goldman-sachs

Goldman Sachs Bribed Senate To Pass Bailout Bill
1 more annotations...
- From: gr1m1b
  
  Added:
  October 02, 2008
  
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  Complete CONTRIBUTION LIST:
  http://www.washingtonyo...
  
  Complete CONTRIBUTION LIST:
  http://www.washingtonyourefired.com/g...
  
  How much bribe money does it take to transfer $700 Billion taxpayer dollars to Wall Street's elite?
  
  GOLDMAN SACHS CONTRIBUTIONS:
  Obama, Barack (D-IL) $691,930
  Clinton, Hillary (D-NY) $468,200
  Romney, Mitt (R) $229,675
  McCain, John (R-AZ) $208,395
  Himes, Jim (D-CT) $114,748
  Giuliani, Rudolph W (R) $111,750
  Dodd, Christopher J (D-CT) $105,400
  Edwards, John (D) $66,450
  Specter, Arlen (R-PA) $47,600
  Emanuel, Rahm (D-IL) $32,950
  Reed, Jack (D-RI) $30,100
  
  How much money did your Represenative get from Big Bankers to look the other way and pass a bill that the American people clearly do not want?

President Bush signs historic financial rescue plan into law - Oct. 3, 2008

money.cnn.com/...index.htm - Preview

bailout-bill bankster-gangster-bandwagon us-government george-bush law traitors heroes marcy-kaptur ohio thieves wall-street

Bailout is law
President Bush signs historic $700 billion plan aimed at stemming credit crisis.
31 more annotations...
- By Jeanne Sahadi, CNNMoney.com senior writer
  Last Updated: October 3, 2008: 3:07 PM ET
- NEW YORK (CNNMoney.com) -- After two weeks of contentious and often emotional debate, the federal government's far-reaching and historic plan to bail out the nation's financial system was signed into law by President Bush on Friday afternoon.
- "By coming together on this legislation, we have acted boldly to prevent the crisis on Wall Street from becoming a crisis in communities across our country," Bush said less than an hour after the House voted 263 to 171 to pass the bill.
- The House vote followed a strong lobbying push by the White House and other supporters of the bill.
- The House rejected a similar measure on Monday - a defeat that shocked the markets and congressional leaders on both sides of the aisle.
- The law, which allows the Treasury Secretary to purchase as much as $700 billion in troubled assets in a bid to kick-start lending, ushers in one of the most far-reaching interventions in the economy since the Great Depression.
- Federal Reserve Chairman Ben Bernanke said he welcomed the news. "The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses," he said.
- Treasury Secretary Henry Paulson said he would act swiftly but "methodically" to carry out the plan.
- "The broad authorities in this legislation, when combined with existing regulatory authorities and resources, gives us the ability to protect and recapitalize our financial system as we work through the stresses in our credit markets," Paulson said.
- Switching votes
- Republicans picked up 26 votes in favor of the bill among caucus members who'd originally voted against it on Monday, while Democrats picked up an additional 32 votes.
  - Rascal traitors and moral cowards...bought and paid for by the Bankster factions, who these jerks really represent. - on 2008-10-03
  Add Sticky Note
- According to voting results, 172 Democrats voted in favor of the bill while 62 opposed it; and 91 Republicans voted for it and 108 voted against it.
- "We did today what we had to do because past mistakes made it necessary," said Rep. Barney Frank, D-Mass., one of the lead negotiators on the bill.
  - Fag! - on 2008-10-03
  Add Sticky Note
- Republicans who switched their votes from "no" to "yes" included Rep. Howard Coble, R-N.C., and Rep. Sue Myrick, R-N.C. In a statement before the vote, Myrick said, "We're on the cusp of a complete catastrophic credit meltdown. There is no liquidity in the market. We are out of time. Either you believe that fact, or you don't. I do."
- Democrats who switched to "yes" votes include Rep. John Lewis, D-Ga., Rep. Elijah Cummings, D-Md., and Rep. Donna Edwards, D-Md.
- Cummings noted before the vote that this was the most difficult vote for him in his 12 years in Congress. "But today we must step up and lead," he said.
- Earlier this week, Cummings and Edwards were part of a group that had been working on an alternate proposal.
- The lawmakers had lobbied strongly but unsuccessfully to include, among other things, a change to the bankruptcy law that would let judges modify mortgages on primary residences, a move the lending industry has strongly opposed.
- Cummings and Edwards said they had received calls from Democratic presidential nominee Barack Obama, encouraging them to change their minds. They said they received assurances that he was committed to the bankruptcy provision.
- House Minority Whip Roy Blunt, R-Mo., told reporters before the vote on Friday morning that three things have happened to change some Republican members' opposition to the bill since the House defeated the measure on Monday: more calls to their district offices in support of the bill; a clarification of SEC accounting rules; and the Senate additions, passed on Wednesday, including a number of tax break extenders and an increase in FDIC deposit insurance coverage. (What's in the bill.)
- Economy in need of a fix
- The House debate began on the heels of two market-moving events early Friday morning: a worse-than-expected monthly jobs number; and a surprise merger announcement between Wachovia and Wells Fargo.
- For the past two weeks, lending between banks and between banks and businesses has gotten considerably more expensive. Small businesses are having trouble getting loans.
- As of midday Friday, one key measure showed that banks were hoarding cash rather than loaning it. Meanwhile, an indicator showing how willing banks are to lend each other was at an all-time high.
- Advocates say the plan is crucial to government efforts to attack a credit crisis that threatens the economy and would free up banks to lend more. Opponents say it rewards bad decisions by Wall Street, puts taxpayers at risk and fails to address the real economic problems facing Americans.
- Lawmakers who voted against the bill warned that "being stampeded" into voting the bill through would be a serious mistake.
- "Wall Street is so hungry for the $700 billion they can taste it. To get it they need to ... create panic, block alternatives and herd the cattle. We ask Congress not to rush. Defeating this bill today isn't the last step. It's the first step in passing a good bill," said Rep. Brad Sherman, D-Calif. before the vote.
- Rep. Marcy Kaptur, D-Ohio, who has called for the FDIC and SEC to use their powers to ease the credit crisis, said, "Pray for our Republic. She's being placed in ... very greedy hands."
  - Rep Marcy Kaptur, D-Ohio...spoke truth. She says the Republic is in trouble. - on 2008-10-03
  Add Sticky Note
- Lawmakers who stood in support of the plan noted that it will help Main Street, not Wall Street. "We [would] rescue the jobs, the savings and the ability to get a loan for each hard-working American," said Rep. Louise Slaughter, D-N.Y.
- Rep. Maxine Waters, D-Calif., noted in the floor debate that the plan as amended by lawmakers also supports homeowners at risk of foreclosure by giving the government more say in how loans for troubled borrowers are modified so people can stay in their homes.
- "When we buy up this toxic paper, we're in charge. We can do the kind of loan modifications we've been urging [the industry coalition] Hope Now to get done. ... We'll be able to set some standards," Waters said during the floor debate. "For anybody who says there's nothing in this bill for homeowners, they're incorrect."