Bush wants sole power over this bail out with no oversight period!!! what a pile...
 

...of shit this Administration has turned out to be. Makes Nixon look like a boyscout.

Section 8 of the Bush version of the bail-out:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

And the Media has all but ignored this section so far.

Fuck you Scumbags!!

Full Story Here

Thank god the Dem congress will not pass the bill :1orglaugh:1orglaugh:1orglaugh:1orglaugh

shocking

We are sheep for having allowed the Bush administration to fuck us up the ass for 8 years, and put our country into a mound of debt, and lie, and lie, and delete their own email records, and not have to ever testify when they are ordered to, and cover everything up under the guise of "national security" and start wars over oil, and tap our phones, and watch everything we do, and make us look weak worldwide, and declare countries "the axis of evil" so Iran can race for a nuclear bomb, and to appoint neocons to executive positions, and on and fucking on!

You are a TOTAL ASSHOLE if you vote in McCain this year - a TOTAL FUCKING ASSHOLE!!!

Oh come on, it's not like who anyone votes for is going to make a difference. If the current administration is corrupt enough to do what it has done to this point, its corrupt enough to rig the next election to make sure their party stays in power.

I assume you are being sarcastic.

Watch what George Carlin has to say on voting, because he's right, in my opinion.
Voting is an "illusion of choice". It makes you think that you're really making a difference... you're not.

If you want ice cream, you get 51 flavours to choose from. Donuts? Even more!

Want to pick the most powerful person in the world? Here's 2 to choose from.

All of the banking oversight committees that are run by Democrats had no problem with it, hell they suupported it so they cant be held responsible or called upon if a deal goes south. So your bitching about something that they very people you support are supporting to save there own ass.

Makes a lot of sense :disgust

In fact Dodd drew up the first round of bail out bills. The dems and reps are behind this 100%. We are getting double penetrated but some people are trying to tell us its just one really big dick.

:2 cents::2 cents:

I agree that it is sad that our final choice is almost always between just 2 people here in the US, but that's the way it is right now. I've been an Independent my entire life, but to waste a vote this year is just insane!

It's too bad we only have 2 guys to choose between, but one offers change, and one offers more of the same. After 8 years of total bullshit neither guy will have an easy ride going in, but there is no way in fucking hell I will be voting in more of the McSame!

The Supreme Court is on the edge of no return right now - if McSame gets in with his loony co-star, then this country gets really fucking scary, really fast!

A person in the adult biz who votes for a Republican is voting against their own self-interest - just like a toothless hick from the middle of fucking nowhere USA living in a trailer park, waving his dumb fucking flag, and sporting a McCain/Palin bumper sticker - like the fucking Republicans give a flying rat's ass about them, other than for getting their votes.

Under McSame Bubba's kids won't be going to college, and they won't be getting health care either, but maybe they can join the army and perpetuate the same short-sighted stupidity they were born into.

God bless!

Really, you guys aree unfair ...

Bush has only a few months left in office to sugar coat his friends and himself ....

Can't try to be subtile anymore ....

That sums it up for me. :2 cents:

But see, here's the problem, everyone (myself included) sitting on a message board bitching or posting blogs or comments on websites...but noone out in the fucking streets throwing maltov cocktails at these mother fuckers' places of residence/work/church/etc.

If people don't stand for something...they'll fall for anything.

If this had been the 1800's I'm sure an armed revolution would have taken place already with this shit going on.

You need to stand up.

i say we just give him all the power that he asks for. fuck it. he'll take it anyway. how much worse could shit get?

The Merovingian was a wise man.
And he had cool vampires and ghosts and a really hot chick for a wife.

Can't beat that.

:2 cents:

This is a good thing. We have needed a stronger President like Bush for a long time. Loryn, 12clicks, stickyfingerz, sperbonzo, and baddog are the prophets guiding us to a stronger America.

http://blog.mpl.org/nowatmpl/american-flag-2a.jpg

It's because this box in front of me is designed to keep me asleep. My television is designed to keep my brain on autopilot. The radio feeds me more useless information that wastes my time and stops me from thinking. I allow them to inundate me with advertising and bullshit news, yet I allow them to also keep me from the truth.

http://www.msnbc.msn.com/id/11329452/

Not to mention the concentration camps they're currently building all over America. Or hey, how about this little document:

http://www.army.mil/usapa/epubs/pdf/r210_35.pdf (My favorite part is section c articles 1 and 2 under section 1-4 Responsibilities. ;)

Welcome to the New world order people. It's a historic time for America. Our country is being stolen and destroyed right under our noses while we're all fast asleep. :):thumbsup

Amen to that. :thumbsup

Everything I read today, actually the dems and a chunk of reps arent for the bush blind faith deal.

look at those names closely and ask yourself what ties them all together.
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Nothing to lose.

No one should be hind this bullshit deal. To have the dems even thinking about it makes me want to puke.

Anyone ready to admit that Ron Paul would have been a far better choice then the two clowns we have now?

Mushroom Cloud over Wall Street

By: Mike Whitney

These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation’s financial markets and the country’s economic future. Industry representative Henry Paulson has submitted legislation to congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4′ by 6′ teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Bankster’s Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.

Wall Street

Isn’t it about time to send the cockroaches scuttling back to their hideouts and bring in the cleaning crew to hose the whole place down?

“All Hail Caesar!” The days of the republic are over. Section 8 of the proposed legislation says it all: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.” Right; “non-reviewable” supremacy.

Congress, of course, is more than eager to abdicate whatever little authority they have left. They’re infinitely grateful for their purely ceremonial role, the equivalent of Caligula’s horse, albeit, with considerably less dignity. Has even one senator spoken out against this madness, which–according to informal internet polls–is resoundingly rejected by the voters? Does it concern the members of congress at all, that the present financial crisis was brought on by the proliferation and sale of trillions of dollars of mortgage-banked garbage which were fraudulently represented as Triple A rated bonds by the very same people who now claim to need unprecedented and dictatorial powers to fix the problem? Or are they more worried that the steady torrent of contributions which flows from Wall Street to congressional campaign coffers will be inconveniently disrupted if they fail to ratify this latest assault on democratic governance? The House of Representatives is one big steaming dungheap that should be leveled and turned into an amusement park instead of a taxpayer-funded knocking shop. What a pathetic collection of cowards and scumbags.

Bloomberg News:
“The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets. Through his plan, Treasury Secretary Henry Paulson aims to avert a credit freeze that would bring the financial system and the world’s largest economy to a standstill. The bill would prevent courts from reviewing actions taken under its authority.

“He’s asking for a huge amount of power,” said Nouriel Roubini an economist at New York University. “He’s saying, `Trust me, I’m going to do it right if you give me absolute control.’ This is not a monarchy.” (Bloomberg)

The banksters own this country, always have; only now they’ve decided to strip away the curtain and reveal the ghoulish visage of the puppet-master. It ain’t pretty.

Paulson decided that the financial markets needed an emergency trillion dollar face-lift just weeks before his former business partners at G-Sax were dragged off to the chopping block. Was that the reason? Everyone on Wall Street knew that the bulls-eye had already been ripped from Lehman’s bloody back and was about to be fastened on Goldman’s. Now, it looks like they will escape their day of reckoning due to Paulson’s eleventh-hour reprieve. Nice touch, eh? From the proposed legislation: LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS “(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them.”

Market Ticker’s Karl Denninger's summary:

“This is the de facto nationalization of the entire banking, insurance and related financial system..That’s right - every bank and other financial institution in the United States has just become a de-facto organ of the United States Government, if Hank Paulson thinks they should be, and he may order them to do virtually anything that he claims is in furtherance of this act…..The bill gives Paulson the ability to nationalize unlimited amount of private debt and force you and your children to pay for it.”

“The claim is that this is intended to ‘promote confidence and stability’ in the financial markets. It will do no such thing. It will instead strike terror into the hearts of investors worldwide who hold any sort of paper, whether it be preferred stock, common stock or debt, in any financial entity that happens to be domiciled in the United States, never mind the potential impact on Treasury yields and the United States sovereign credit rating.

I predict that if this passes it will precipitate the mother and father of all financial panics.” (Market Ticker)

Amen. The transformation from a free market to a centralized, Soviet-style economy run by men whose judgment and credibility is already greatly in doubt; does not auger well for the markets or the country. Anyone with a lick of sense would cash in their chips first thing Monday and look for capital’s Elysium Fields overseas or as far as possible from the circus sideshow now run by G-Sax ringleader, Colonel Klink.

Paulson’s Chicken Little routine might might have soiled a few senatorial undergarments, but let’s hope the American people are made of sterner stuff and will reject this charade. The conversation should be shifted from conceding more authority to hucksters in pin-stripes to indictments for securities fraud. Even the most economically-challenged nation ought to be able to afford a few sets of leg-irons and a couple hundred jail cells. That’s all it will take. That, and a couple brisk dunks on the waterboard. Glub, glub.

Paulson’s plan to revive the banking system by buying up hundreds of billions of dollars of illiquid mortgage-backed securities (MBS) and other equally poisonous debt-instruments; ignores the fact these complex bonds have already been “marked to market” in the recent firesale by Merrill Lynch. Just weeks ago, Merrill sold $31 billion of these CDOs for roughly $.20 on the dollar and provided 75 percent of the financing, which means that the CDOs were really worth approximately $.06 on the dollar. If this is the settlement that Paulson has in mind, than the taxpayer will be well served. But this will not recapitalize the banks balance sheets or mop up the ocean of red ink which is flooding the financial system. No, Paulson intends to hand out lavish treats to his banker buddies, while interest rates soar, pension funds collapse, the housing market crashes, and the dollar does a last, looping swan-dive into a pool of molten lava. Thanks, Hank.

Economist and author Henry Liu summarized the current maneuvering like this: “The Fed is merely trying to inject money to keep prices not supported by fundamentals from falling. It is a prescription for hyperinflation. The only way to keep price of worthless assets high is to lower the value of money. And that appears to be the Fed unspoken strategy.”

Congress is getting steamrolled and the American people are getting snookered. Consumer confidence–already at historic lows–is headed for the wood-chipper feet-first. Something has got to give.

One minute everything is hunky-dory; the subprime meltdown is “contained” and “the fundamentals of our economy are strong”.(Paulson) And, less than a week later, congress is forced to surrender their constitutionally-mandated right to oversee spending in order to forestall economic Armageddon. Which is it? Or is the real objective just to keep the country on an emotional teeter-totter long enough for all state-power to be subsumed by the Wall Street Politburo?

No one knows what will happen next. We are in uncharted waters. And no one knows what the political landscape will look like after the dust settles from this outrageous power grab. According to Paulson, things are so dire, the entire nation will be reduced to smoldering rubble and twisted iron. But can we trust him this time after his long litany of lies?

Isn’t it about time to send the cockroaches scuttling back to their hideouts and bring in the cleaning crew to hose the whole place down? It sounds like a job for Ralph Nader, a man of vision and unshakable integrity. Give Ralph a badge and let him deploy his Raiders to Wall Street armed with bullwhips and tasers. Let them post a guard in every CEOs and CFOs office and every boardroom on the Street—and if even one decimal is accidentally moved to the right or left on the corporate ledger; clap them in leg-irons and drag them off squealing to Guantanamo. That’s how you clean up Wall Street! Don’t let the prospect of a national crisis trick you into giving up your freedom, America. The people behind this scam are the same landsharks and flim-flam men who polluted the global marketplace with their snake oil and toxic sludge. These are the fraudsters who manufactured the crisis to begin with. This is just the latest installment of the Shock Doctrine; engineer a crisis, and then, steal whatever is left behind. Same sh**, different day. Be resolute. Don’t budge. Our economic foundations may be crumbling, but or determination is not. This is our country, not Goldman Sach’s. The people who destroyed America must be held to account. Their time is coming. Justice first.

There should be no oversight... because there should be no bailout!
Fuck it! Let them all go backrupt.

AS SOON as you put more power in the hands of the GOV. it all gets fucked up! Thats what caused this in the first place! Fannie Mae and Freddie Mack! If they were not such massive - sudo-government financial entities, this WOULD HAVE NEVER HAPPENED!!!!

If you for ONE second think that democrats are on the side of the people... lol
Where were ALL THESE WONDERFUL DEMOCRATS in congress when an OVERSIGHT bill (S.190) was was brought up in 2005? Why did they ALL stand against it? Perhaps, their pockets were too heavily lined to support NEW REGULATORY RULES that could have stopped this entire thing!

And now... EVERYONE WANTS CONGRESS TO HAVE MORE OVERSIGHT??? into what?
WHAT IS OVERSIGHT going to do??? CONGRESS is the problem! Congress getting involved (fannie mae & freddie mack) is what caused this! It is CONGRESS that created a system in which Fannie & Freddie STUCK financial institutions with worthless high-risk debt!

This is freaking retarded! This bailout is freaking retarded! THE MORE power you give the Feds.. the WORSE off every American is.

You forgot one thing. The FED. But well said :thumbsup

Your right. My bad!

This year the financial sector gets nationalized... and now we have idiot democrat politicians pandering pushing a nationalized health care system. There has also been talk about nationalizing the Automotive industry (to save it)! Whats next, the Airlines? Then the government runs everything! Welcome to the new.... PEOPLES UNITED STATES OF THE REPUBLIC!

How about we all tell the FED GOV to back the fuck off. Stop making regulatory rules that only hurt US industry and just simply SLOW the unfettered flow of cheap junk into the country totally tariff free!

As for this election... anyone who thinks McCain or Obama will fix anything might be interested in a bridge I have for sale. If you asked me.. the cleanest person on any tickets is Palin. If you could drop the other side of her ticket - it might be better for the country. In polls, she beats McCain and Obama heads up. Perhaps what Washignton needs is an OUTSIDER. McCain, Obama & Biden are the furthest things from an OUTSIDER!

Yea, because Bush is proven to make great decisions for this country. Fuck that, kick this fucker and his puppet master cheney out of office already and get this country back on track.

Yeah, I agree with most of what you say..until the Palin thing lol. I don't want any of them, especially her nutty fucking ass, running anything. That's all we need is a crazy christian soccer mom who thinks that firing a state trooper and then trying to cover it up is O.K. Fuck that crazy bitch. The only hope I saw was Ron Paul, a true conservative...but if you say his name everyone calls you nuts and starts ragging on your tin foil hat. I just don't get it anymore...or maybe I finally get it. I dunno...

This is what happens when people vote for the guy they'd rather have a beer with. Or the guy they admire because he wears Wranglers just like me. This country is stupid, plain and simple. We deserve what we get.

You guys forget, they dont bail them out and they all go under. Say good bye to all those credit card lines that buy porn memberships.

This election will be about, 'which VP would you rather bang?' :Oh crap

This is true. If they didnt bail them out people would be shitting their pants right about now, including myself.

the peoples vote dont count in presidential elections, this whols mccain or obama shit is hilarious watching people fight over it.

http://en.wikipedia.org/wiki/United_...ctoral_College

Everything's fine. The McCain has a plan.

http://blog.wired.com/photos/uncateg...in2_630x_2.jpg