SOCIALISTS HIJACK AMERIKA'S DEMOCRACY!
"THIS IS NOT A DEMOCRATIC BILL", Nancy Pelosi 9/28/08
That’s right. It’s over. San Fran Nan was in her faded glory today, laying down the new rules for all the comrades in the finance industry. Socialism has arrived with a heavy hand, and Nancy P was there to rub salt into the wounds as hard as she could while doing her end zone victory dance. The woman is a red. There can be no doubt about it at all.
“The party is over. The party is over for this compensation for CEOs who their golden parachute as they drive their companies into the ground. The party is over for the disparity in our country between the CEOs making almost immoral salaries and not being interested in lifting other people up. The party is over for financial institutions taking risks but at the same time privatizing any gains they may have while they nationalize the risks asking the taxpayers to pick up the tab. So we can’t even consider any legislation that the Republicans send us unless it ends, addresses, and reforms compensation for chief executives, officers; unless it has protection for the taxpayers, that’s our responsibility. Certainly we want to stabilize the market, but we want to do so at the same time as we protect the taxpayers. We want to insulate everyday Americans from the crisis on Wall Street. In order to do that we must have independent oversight. The party is over for this no regulation, no supervision, anything goes, so called free market which has taken us to this place. Clearly the Bush economic policies have failed. Do we need any further evidence?
Not to put too fine a point on it, but isn’t “no regulation, no supervision, anything goes” the basic definition of a “so-called” free market? So part of the Pelosi Fix will include a Ben ‘n Jerry’s salary cap for all the Big Bosses. And lots of Big Brother oversight and rules and regulations. Financial institutions take risks. That’s what they are there for. It’s called investing. And, please correct me if I’m wrong, but isn’t this bailout the government’s idea? Or did the big houses come to Uncle Sugar, hat in hand on bended knee?
Yes, I think these guys are paid way too much. By about 4 extra zeros on their paychecks. And I think the guys who trash a company and then bail with millions ought to be shot. And I think these incentive payments to executives is way out of proportion. But that’s what goes on in private business. It isn’t any of the governments business. So, while I might ordinarily agree with Ms. Pelosi on these items, I’m going to call her out and label her the nearest thing there is next to a communist. Because she WON’T stop playing the blame game on this. Lizzen up beyotch: you are ALL to blame. You. Reid. Bush. Wall Street. Washington. Fix the mess. Fix it now. Don’t add a single bacon slice worth of pork to the package. Not a dollar. And then resign in disgrace. Seppuku comes to mind, but I’m not sure you had any honor to lose in the first place, so that’s too easy an out for all of you. You ALL let this happen, made it happen, watched it happen ... and played partisan politics and blocked a myriad of bills for YEARS that would have stopped or at least mitigated this disaster. So sod off. You’re Firedtm. Now go away. Leave now, and never come back!
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Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.
VIP Dems, especially Chris Dodd, got bargain mortgages through Countrywide, all this was reported last June. The Dems are two faced crooks!
Countrywide Loan Scandal
http://www.portfolio.com/news-markets/top-5/2008/06/12/Countrywide-Loan-Scandal
Senators Appear to Have Received Below Market Mortgages from Countrywide
http://www.mortgagenewsdaily.com/6162008_Friends_of_Mozilo.asp
Dodd Must Clear Air Over Deals -- Courant.com
http://www.courant.com/news/opinion/editorials/hc-rennie0622.artjun22,0,6806846.column
YouTube - Burning Down The House: What Caused Our Economic Crisis?
http://www.youtube.com/watch?v=H5tZc8oH--o
If you do your homework, you will find that the Democrats passed laws in 1977, and then in 1998 that confirmed that mortgages will be backed by the US government (taxpayers). Even when the Bush Admin tried to change it, Dodd and Frank stopped the move. This is what happens when the government controls and forces loans to be given to people who cannot afford a mortgage. Reno threatened legal action if this wasn't done by Fannie Mae and Freddie Mac. Not to mention the amount of campaign funding given to these folks and Obama by FM/FM over the years. No wonder people want this to keep going (Main St. vs Wall St.). Let the markets take care of this!
Listen very carefully the statement Pelosi makes, "This is not a Democratic Bill"!
Then you can draw upon the fact that since the government wants to get into the market indicates
even more Socialist behavior in the future.
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Financial services US government bailout bill online
US lawmakers the financial service have posted on the internet their draft legislation for the $700 billion bailout to rescue the US financial sector.
The bill which is more than 100 pages long is posted on the websites of the House Finance Committee which you can find at financialservices.house.gov and the website of House Speaker Nancy Pelosi, speaker.house.gov as they have been in-undated with worried people logging on both sites have been seriously overloaded.
It’s been reported that the bill which is in draft format has been put online for all Americans to see, and the bill is known as the Emergency Economic Stabilization Act of 2008. Democratic leaders are hoping that the quickness of availability and openness of the bill will give the feeling of transparency.
Lawmakers said that the House of Representatives will take a vote as early as Monday on the bill, and the Senate on Wednesday, it’s also said that when the bill passes it should be available for all to see within 48 hours on the internet.
Read the full article in afp.google
Link to the financialservices.house.gov
Link to the speaker.house.gov
Treasury Would Emerge With Vast New Power --The secretary can choose to bail out foreign central banks. [This is absolute bullsh*t.] 29 Sep 2008 During its weeklong deliberations, Congress made many changes to the Bush regime’s original proposal to bail out the financial industry, but one overarching aspect of the initial plan that remains is the vast discretion it gives to the Treasury secretary. The draft legislation, which will be put to a House vote on Monday, gives Treasury Secretary Henry M. Paulson Jr. and his successor extraordinary power to decide how the $700 billion bailout fund is spent. Mr. Paulson can choose to buy from any financial institution that does business in the United States, or from pension funds, with wide discretion over what he will buy and how much he will pay. Under some conditions, the secretary can choose to bail out foreign central banks.
Still No Bailout - Lipstick on Pig Edition By Bob Fertik 28 Sep 2008 (1) Call your Representatives and Senators at 800-473-6711 or 202-224-3121 and say No Bailout! (2) Email them too. After a week of high-drama negotiations, Congress and Hank Paulson issued Bailout version 1.1, which is just the original Paulson pig with a lot of lipstick.
Golden parachutes here to stay --Advocates of financial rescue trumpet end to big exit packages for execs. But many leaving troubled firms that get help will still get to take a bundle with them. 28 Sep 2008 Many advocates of the proposed $700 billion bailout of Wall Street trumpet its limitations on large pay packages and so-called golden parachutes for some of the top executives at the troubled firms that will get help. Barack Obama and John McCain [both *useless*], in endorsing the rescue plan, pointed to the restrictions on Wall Street pay... Under the bill, Wall Street executives who already have golden parachutes are likely to keep them even if their companies get government help. "We're not abrogating contracts," said a Treasury official who briefed reporters Sunday.
The Rich Are Staging a Coup This Morning By Michael Moore 29 Sep 2008 The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab... Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY... There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks... The Dems handed a stolen election over to Bush. The Dems gave Bush the votes he needed to invade a sovereign country. Once they took over Congress in 2007, they refused to pull the plug on the war. And now they have been cowered into being accomplices in the crime of the century. You have to call them now and say "NO!"
Countrywide Loan Scandal
http://www.portfolio.com/news-markets/top-5/2008/06/12/Countrywide-Loan-Scandal
Senators Appear to Have Received Below Market Mortgages from Countrywide
http://www.mortgagenewsdaily.com/6162008_Friends_of_Mozilo.asp
Dodd Must Clear Air Over Deals -- Courant.com
http://www.courant.com/news/opinion/editorials/hc-rennie0622.artjun22,0,6806846.column
YouTube - Burning Down The House: What Caused Our Economic Crisis?
http://www.youtube.com/watch?v=H5tZc8oH--o
You won't believe where that $700-billion bailout figure came from
Bush Sends His Negotiator for Talks in North Korea in Last-Ditch Effort
Bailout ushers in the era of Obama
US Economists Warn Bank Runs Near In Advice To McCain
Central banks pump in $620 billion as shares plummet
Bailout failure 'will cause crash’, US Treasury warns
FDIC Warns 117 More US Banks Could Fail
Stocks Plunge Worldwide In Response To US Moves
US Congress Reaches Agreement on Financial Bailout Plan
FDIC Announces Citigroup to Buy Collapsing Wachovia
Blistering report says firing of US Attorneys was political
Premiums for drug coverage for US seniors to rise 31 percent in 2009
US Mint suspends sale of 24-karat gold coins
 Voice of America | Golden parachutes here to stay CNNMoney.com - But those hoping for an end to golden parachutes - the large pay packages that top executives get when they leave a company - may end up disappointed. ... No more golden parachutes, Wall Street announcement in quotes NO TO BUSH-PELOSI BAILOUT OF WALL STREET GREED! TIME FOR PEOPLE’S ... |
 Citizen | CEO pay takes a hit in bailout plan USA Today - And it bans exit-pay packages, or golden parachutes, at those companies. The provisions may be some of the easier for politicians to agree on. ... Hard Landing for the Golden Parachute Public anger turns to CEO pay Critics out to put holes in golden parachutes |
 Wall Street Journal | Night rush to clinch $840 billion US rescue The Age, Australia - A second "golden parachute" provision threatens companies with a 20% surtax on such rich benefits, and the company is prohibited from agreeing to golden ... The Wall Street bailout explained • Dr. Paulson's Tough Medicine, In a Pill the Public Can Swallow Q&A: US $700bn bail-out plan |
Pensions as Golden Parachutes Free Liberal, VA - While I certainly don't like taxpayer financing of lavish (if contractual) golden parachutes of inept bankers and Wall Streeters, why stop there? ... |
Weak, Pathetic Executive Compensation Limitations Huffington Post, NY - If the government acquires at least $300000000 in an auctioned process, then only golden parachutes are prohibited. With all the dire predictions of what is ... Bailout proposal addresses executive compensation |
Bailout deal goes to House Indianapolis Star, United States - For companies that sell at least $300 million in assets to the Treasury through auctions, "golden parachutes" would be banned for incoming executives, ... America's Financial Bailout Deal US reaches outline for bailout |
guardian.co.uk, UK -
In return for being bailed out by the US taxpayer, banks will be obliged to curtail "golden parachute" payoffs for departing executives, to tone down the ...
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