Topic: Link to the bailout plan | |
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It's in PDF form. Have fun, I about puked reading it...I'll come up with what I got out of it tomorrow, after I've slept on it.
http://rawstory.com/images/other/bailoutbill-092808.pdf |
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This bill is outrageous... It is the Paulson Plan with wistles and bells and smoke and mirrors.
Nothing in it ACTUALLY provides protection. What is worse is the assumption that we are all stupid. Those 'illiquid' assets are illiquid because they are based on property values that were allready inflated above the REAL value of the property by years of profit taking and artifically imposed increases in the housing market for the purpose of making a profit. How then can anyone that understands even a small bit of economics expect them to increase in value over time. There is a crack in the dam and instead of putting concrete in it we will be filling that crack with... fecal matter. Would you fix the foundation of your house with fecal matter? |
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Did you know that this plan gives banks the athority to act as agents of the Fed...
Reckon since they could not peek into our private files allready by the Patriot Act... They gonna do it by sneak... Again. |
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Also the size of the organization to handle mortage related problems will grow to rivial the size of the IRS...
do we really need another government agency peeking into our finances? How much of this bill will go to pay those government employees? Who will hire them? - the secretary himself... can you say dynasty. |
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