Another reason why America is being systematically Bankrupted by So-called Pro Americans. Yep! it just happened Today as Republicans struck down the Plan to give The American Automotive companies a Loan. Not Free Money like the $2 Trillion(and Climbing) Bailout Plan. Im talking about a Loan. They refused to give a Loan While still stuffing Billions into the Pockets of the Internationally owned banking institutions.
So lets recap here.
The Republicans approved over 2 Trillion(and Climbing) Free Money for the Wealthy, but struck down a $14 Billion dollar Loan to Companies that actually provided Jobs to Middle Class Americans.
So whats on the line?
Millions of American Jobs, and the Stability of Middle Class Americans.
I personally ponder the Irony of this. Here you have Brainwashed Middle Class Republican supporters who argue that No more of their money should go towards helping the Needy. And Now you have Wealthy republicans who argue that their Bailout money shouldnt go towards helping the Middle Class.
Yet while Millions of Americans plan their Middle Class Demise. Some republican supporters will still find excuses as to why it was a good reason for the republicans to reject the Bridge Loan and allow Millions to begin losing their jobs in 2009.
Ofcourse, These are people who are Still in Denial thinking that the Republican Party has their best interest in hand.
Not that The Democratic Party is any better. As they are also just as Corrupted by also approving the $2 Trillion Bailout Plan. But atleast the Democratic party has shown that they were united to help Americans keep their jobs by trying to approve the Loan as well.
In the end. As i stated before. America is purposely being setup for faillure. The Year 2009. Will replace the Skyrocketing residential Bankruptcies, with a New Wave of Fortune 500 Companies filing Bankruptcy. Americans will watch as Millions will lose their jobs, Starting with Tens of Thousands at a time on a weekly basis.
Hopefully Americans will Wake Up and see that America is being forced into Bankruptcy. Hopefully they will see it. Atleast before Martial law is enacted, Due to the Civil unrest.
There has been much talk about Obama's appeal by the masses, and/or his underlining Intentions once in the White House. So lets look at Both sides.
Anti-Christ
You have People that consider Barack Obama as The Anti-Christ. They Believe that Obama intends to Take away Americans Constitutional Rights. From the Right to Bear Arms, to Freedom of Speech, and even going as far as to call Martial Law. Theres talk that Obama intends to standarize the Destruction of Unborn Fetuses. Theres even talk that Obama intends on Giving America away, and/or Letting The Muslim Hierarchy Gain Control of America. Some People believe that Barack Obama's Intent of his "Share the Wealth Plan" alludes to Taking Money from the Rich and Giving it to the Poor. Obama is also seen as The person who will push the world into World War 3 by redirecting the overall Mission of The Military.
Christ
You have people all around the world who see Jesus Christ as a Person who brings Not Pain And Destruction, But Brings Salvation, Justice, Equality and Protection against all those who either Bring forth Pain or are Supporters of Pain. I guess its Easy to see why they Look to Barack Obama as Their Savior. Its Not Called Insanity. Its called Hope. And these people who see Barack Obama as being Totally Opposite in Appearance and Speech, from the usual Corporate Good'ol Boy in a Suit, are actually Praying that Barack Obama Brings Change to the Barbaric History of Pain, Death and Destruction many of the Past leaders of the World have brought upon the people of this world.
Whether Barack Obama Intends to Continue to Destroy, or actually Change The Evils of yesterday and Today, and Bring forth Peace and Love for the Future, Remains to be seen. Especially since the Man hasnt even been Sworn into office yet.
Either way, Barack Obama is Unable to do it alone. He's Not Christ.
But Ironically! As Jesus Christ was Crucified for Trying to help the people of the world. Barack Obama, who has received the Highest Amount of Death Threats of Any president Ever! Seems to be following right on track!
Very Few People have heard about the law that keeps the Military from being used against the American People.
Infact very few people even realize that this law has been erased and replaced with a New law, signed by President George W. Bush, in a Private White House ceremony.
This law further collapses the historic divide between the police and the military. A tell-tale sign of a rapidly consolidating Police State in America.
Lets take a look at the Original Law, its Demise, and the Making of Martial law, Through this Timeline.
The Posse Comitatus Act of 1878
The Posse Comitatus Act which abolished the use of the U.S. military against American citizens since 1878. This act which protected citizens through WWI, WWII, the Vietnam War, the Korean War and the Great Depression.
The John Warner Defense Authorization Act of 2007 Military Commissions Act of 2006 H.R. 5122
October 17, 2006
President George W. Bush Signed into Action.
This act nullifies the Posse Comitatus Act and the Insurrection Act (10 U.S.C. 331-335) and gives the President the legal ability to declare Martial Law under any condition he so chooses.
It Allows the President to declare a "public emergency" and station troops anywhere in America and take control of state-based National Guard units without the consent of the governor or local authorities.
Whitehouse.gov
Military Commissions Act of 2006
President George W. Bush Also signed this Act on the same day.
The two laws complement one another. One allows for Torture and Detention abroad, while the other seeks to Enforce Control at home on the streets of America.
Most Importantly! The term for putting an area Under Military Law Enforcement Control is precise; the term is "MARTIAL LAW"
Whitehouse.gov
Use of the Armed Forces in Major Public Emergencies September 29, 2006
Section 1076 of the massive Authorization Act, which grants the Pentagon another $500-plus-billion for its ill-advised adventures, is entitled, "Use of the Armed Forces in Major Public Emergencies." Section 333, "Major public emergencies; interference with State and Federal law"
NOTE: The law also facilitates militarized police round-ups and detention of protesters, so called "illegal aliens," "potential terrorists" and other "undesirables" for detention in facilities already contracted for and under construction by HALLIBURTON.
Halliburton Subsidiary Gets Detention Center Contract
Feb 3, 2006
The Army Corps of Engineers has awarded a contract worth up to $385 million for building temporary immigration detention centers to Kellogg Brown & Root, the Halliburton subsidiary.
KBR would build the centers for the Homeland Security Department for an unexpected influx of immigrants, to house people in the event of a natural disaster or for New Programs that require additional detention space, company executives said.
Nytimes.com
September 29, 2006
Senator Patrick Leahy (D-Vermont),
"Conference agreement includes language that subverts solid, longstanding posse comitatus statutes that limit the military’s involvement in law enforcement, thereby making it easier for the President to declare martial law. There is good reason for the constructive friction in existing law when it comes to martial law declarations."
Leahy.senate.gov
April 24, 2007
Major General Timothy Lowenberg, the Adjutant General, Washington National Guard, and Director of the Washington Military Department. Said in his Testimony before the Senate Judiciary Committee
In other words, with one swipe of the pen, says the General, "One hundred years of law and policy were changed without any publicly or privately acknowledged author or proponent of the change."
Judiciary.senate.gov
June 2008
The marines have been granted permission by state, federal and local authorities to fire weapons, conduct patrols, run vehicle checkpoints, react to ambushes and employ nonlethal weapons after landing helicopters and deploying throughout various parks, stadiums and fairgrounds.
Daily Newscaster
Mercenaries Training U.S. Local Police
April 8, 2008
In Louisiana, Blackwater officials say they are on contract with the Department of Homeland Security and have been given the authority to use lethal force if necessary.
In Kentucky's Lexington Police Department contracted private Mercenary Army Blackwater Security International to provide what's described as homeland security training.
Huntington News
In a stealth maneuver, President Bush has signed into law a provision which, according to Senator Patrick Leahy (D-Vermont), will actually encourage the President to declare federal martial law
Leahy.senate.gov
On October 1st, 2008.
The U.S. Deployed an Active Duty regular Army Combat Unit for Full use inside the U.S. to deal with Potential Civil unrest.
The 1st Brigade Combat Team of the 3rd Infantry. Has been training with equipment generally used in Law enforcement, including beanbag bullets, Tasers, spike strips and roadblocks.
Army Times
November 27, 2008
Tom Fitzpatrick, Citigroup Chief Technical Strategist.
"The damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before."
"This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, Civil Disorder, and possibly wars. Both outcomes will cause a rush for gold. They are throwing the kitchen sink at this."
By Ambrose Evans-Pritchard Telegraph.co.uk
December 1, 2008
The U.S. military expects to have 20,000 uniformed troops inside the United States by 2011 trained to help state and local officials respond to a nuclear terrorist attack or Other Domestic Catastrophe, according to Pentagon officials.
Washington Post
As The Dumbed Down Citizens of America continue to Avoid the Facts already presented here in this Blog. The Future "Front Page Stories" and Ultimate Call of Martial Law in America will be a Rude Awakening for America's Citizens who are Still Asleep.
There are many people who dont want the Big 3 to get the Bailout Money. I can Totally understand why. The Big 3 says they need this money to continue to run operations for a few extra months. But to me thats not quite what i feel will help the industry and Americans in the longrun.
This is my opinion of what needs to happen.
First and foremost. The Remaining employees(White and Blue Collar) that are making high wages need to be given an opportunity to take the buyout or take a reduction in pay that more reflects todays economy. That includes the reduction of the UAW's contracts. The Government should step in to make it happen and happen fast!
Second. The Tier 1 and Below Auto Parts Suppliers and Foundries, should reduce the Price of their parts and Materials that the Big 3 uses to make their Automobiles. Ofcourse these Parts suppliers would have to adjust employee rates as well. But it can be done. And Through Bids, Companies will jump to get the New contracts first.
Third. The Big 3 Must Reduce the prices of the vehicles they are selling. It makes No difference to have a car's MSRP price at nearly $40,000 dollars and The Majority of people cant afford them. The Prices should reflect today's economy. Not Tommorrows Record Profits. We have seen that with the Oil Corporations.
More Importantly! If people could afford the cars. People would buy the cars often. Inturn creating a demand in the Market. Which creates more Jobs. And since the cars are More Affordable. There would be more people around the world wanting American made cars. More Cars = More Jobs.
Sam Walton, founder of Walmart was Absolutely Correct. His competitors sold items for higher prices. So he sold his items for Lower prices and sold out much faster than his competitors. before long he had gotten Control of the Whole Industry.
It doesnt have to cost more to make more money. And people love buying products for a cheaper price. As long as They feel they are getting a deal. They will keep coming back as soon as they can get more money.
The Big 3 has to adapt to this Logic. Keeping Cars at a cost that doesnt reflect today's economy, just to try to keep getting Billions a year in Profits is a plan for Failure. And more importantly! The reason they are in this situaton now.
As the economy slowly grows again, they can start slowly raising New Car prices, But until then. If the Economy is Like the 1930's, The Automobile prices should be also.
We all have to start over and rebuild. Lets do it before the Foreign Automakers beat us to it. believe me its Coming. Just Watch and see. Some foreign Automaker will find a way to start selling New decent sized compact cars with great gas mileage below $10,000 dollars and people will jump all over them.
There is much talk about People rushing the Gun Stores to purchase firearms in inticipation of Obama's Campaign against guns.
There are many who patiently await the arrival of Marshall Law. Some profess the wait wont be too long.
For all of the people who are Over patriotic and eager to shed blood. I suggest you pay more attention to foreign affairs.
When the War comes to the Streets. The American People will Suffer just like the Innocent people of Other Helpless Countries bombed by American artilleries. The Destruction which Certain Americans have done Nothing to stop.
American People are Extremely Naive to believe the Military is gonna go door to door starting shoot outs with American citizens.
News Flash from the future!!! People will be found with those Firearms still in their Cold Dead Hands.
Wake up People!!! The Military will Cut Off the Electricity, the Gas, and the Water. and Wait on You!!.
All you Patriotic So called "True Americans" Ready to Defend your Rights.
You are all Obviously under the impression that there is Honor Amongst Evil Dooers. When infact! The Same Certain Patriotic "Brainwashed" Soldiers who are over in other countries Taking innocent lives. Will be more than happy to do it here in America under the Guise of Homeland Security.
And They will use Planes to drop Neutron Bombs that will kill you, while leaving buildings completely intact.
People wont even see it coming. All they will hear is the Humming of the Plane engines.
You may think your going to war, but your only going to sleep. A Deep, permanent sleep. In The War, Some people called it a Dirt Nap.
The Redistribution of Wealth
This has been a recent issue to Americans. Atleast to Those who feel they are gonna Lose what they have to Poorer People who have much less.
The interesting thing about it is that Group A who is in fear of having to pay alittle more taxes every paycheck. Would rather give it to the Wealthy International bankers, The Cost to continue the war, and The Bailout money thats goes to the wealthy. Sure, They would complain about it, but still pay it to the Wealthy, Rather than give it to Poor People who for Various Reasons are impoverished and in dire need of Assistance.
The Very Poor People who Many in Group A, are finding themselves to be Nowadays.
As far as the poor people are concerned. Sure Some of them are Impoverished people who refuse to work, Some who are drug addicts, Some who abuse the system, Some who totally have their Priorities wrong. But, None of that genuinely matters to Group A.
The Truth of the matter is that Through Selfishness, Greed and the Racist Illusion that Poor People are all Minorities. Group A refuses to voluntarily contribute.
And through this Selfish and Racist Act. It was Just a matter of time when Karma would cause even More Selfish and Greedy people to inturn take from Group A and leave them scrambling to stay alive as well.
Funny thing is that Life isnt without a Bit of Irony.
Because While Group A refuses to Give to the Needy. Group A, Also foolishly fails to realize that Unlike the International bankers and the Wealthy. Poor People would Stimulate The Economy. Poor people are not gonna take the money and burn it, or tear it up, or just sit on it. They are gonna spend it and spend it fast.
The Wealthy arent gonna spend it. They have everything already. At Most they are gonna spend it on High Priced Foreign Products or Invest it to make themselves more Money. Thats not gonna move the American Economy.
We Live in a world where Man is his own Worst Enemy. Where the Mind is Poisoned with delusional beliefs that the Good Life is a Limited Commodity that only the Most Vicious and heartless people are worthy of obtaining it. And once Obtained. The Only way to preserve it. Is to Deny others a chance at achieving it.
Up until the Economy collapsed, people in Group A, were spending $5 bucks for a cup of coffee. Hardly caring about such frivolous spending.
To me Personally. Giving a Few extra Dollars out of My Check to the Poor is nothing that will break or discontinue my lifestyle. Nor would it Hurt anyone in Group A.
Infact I already do it. Sure i Frown on Lazy, unfocused people. But, Regardless of Whether some of the Poor refuses to work or whatever reason they have. None of it Diminishes or devalues my belief of earning a living.
There are Many who just need a hand getting up on their feet. I could Never Punish a whole group of People in Need, because of the Actions of a few. Unfortunately there are Many people who do.
America has always been going through trying times. The Only Difference this time, is that The Majority of Americans are suffering rather than just the Minorities.
Never look down on anybody unless you're helping them up.
---Jesse Jackson
PART I
When it Comes to the Economic Collapse. The Majority of People Have absolutely No Idea what is really going On in America.
Sure its Easy to Believe what the Media Wants people to believe. But Unfortunately, Its More Detailed than just saying Minorities Buying Homes they couldnt afford was the reason. Or Blaming Bill Clinton, or George W Bush.
I have Detailed What has Really Led to the Economic Collapse in a10 Part Timeline. This is the Real Truth They Dont want People to Know About.
Before i Begin. Let me say: "The Only Unintelligent People in America, Are The People who say "People Running Washington and Corporations are Idiots."
While Americans are Losing Everything They Own. These Corporate People are Making Millions for themselves.
People in Corporations and Washington are Very Intelligent People who have Attended the Best Schools in The World. They are Extremely Smart Policy and Money Makers. So Believe Me. They Know Exactly what they are doing.
Charles Lindberg-
"Under the federal Reserve Act. Panics are Scientifically Created...As we figure a Mathmatical Equation." 1981
Ronald Wilson ReaganSworn in as President on January 20, 1981
1982
Unemployment peaked at 10.8% percent in December 1982—higher than any time since the Great Depression.
Reaganomics Spurred the Term Trickle Down Effect to the Poor.
Not Only did Reagan Cut Government programs Including Medicaid, Food Stamps, and federal education programs. His administration attempted to purge tens of thousands of allegedly Disabled people from the Social Security disability roles.--- Robert Pear, The New York Times.
Ronald Reagan Raised the National Debt from $700 billion to $3 Trillion.
Reagan Described the New Debt as the "Greatest Disappointment" of His Presidency.---Lou Cannon, Washington Post.
1983
Dexter Senft's
World Of CMO's
What are CMO's? And What does it have to do with Wall St.?
A Collateralized mortgage obligation (CMO) is a Financial Debt Vehicle.
First Created by Dexter Senftin in June 1983 by Investment banks Salomon Brothers(CitiGroup) and First Boston(Chase National bank, Bank of America, Credit Suisse) for Freddie Mac.
Subprime Mortgage loans
This Was The Most Basic way a Mortgage Loan can be Transformed into a Bond suitable for purchase by an Investor.
Investors frequently refer to deals issued using other types of entities such as REMICs as CMOs. Investors in CMOs Include Banks, Hedge Funds, Insurance Companies, Pension Funds, Mutual Funds, Government Agencies and Most recently Central Banks.
CMOs are backed by loans of lower Credit Quality, such as Subprime Mortgage loans. The issuer will sell a quantity of bonds whose principal value is less than the value of the underlying pool of mortgages.
CMO's have Attributed to the Subprime Mortgage Crisis. They are the Main Catalyst for the Credit Crisis Starting in 2007 when the fundamentals of the underlying mortgages began to weaken.
Who The Hell is Dexter Senft?
Dexter Senft is a Managing Director at Lehman Brothers
Dexter Senft, one of the Wall Street "Rocket Scientists" of a decade and more ago, who transformed bond trading from a seat-of-the-pants business into one relying on computers and mathematical models.
In the late 1970's, Mr. Senft was a leader in evaluating mortgage-backed securities, and he helped educate a generation of investors and traders about how prices and yields of those securities can fluctuate as mortgages are repaid. ---New York Times.
Part II
1989
George Herbert Walker Bush Sworn in as President on January 20, 1989
1990
George H W Bush Raises Taxes Despite His famous "Read my lips: No New Taxes" Pledge.
In doing so, Bush alienated many members of his conservative base, losing their support for his re-election. Of the voters who cited Bush's broken "No New Taxes" pledge as "very important," two thirds voted for Bill Clinton
Jeffrey Schmalz, The New York Times.
1991
January 17, 1991, Allied forces launched the first attack Leading to the Persian Gulf War
When Bush was asked, "Why He Stopped from Removing Saddam Hussein from Power?"
Bush explained that he did Not give the order to overthrow the Iraqi government because it would have "incurred incalculable Human and Political Costs.... We would have been forced to occupy Baghdad and, in effect, Rule Iraq.---A World Transformed.pp. 464 & 489
He Obviously didnt Relay that Feeling to George W.
(NAFTA) The Original North American Union Pact
1992
Who Really Setup and Supported NAFTA?
October 1992
George H W Bush's Administration, along with the Progressive Conservative Canadian Prime Minister Brian Mulroney, Spearheaded the Negotiations of the North American Free Trade Agreement (NAFTA), which would Eliminate the Majority of Tariffs on products traded among the United States, Canada, and Mexico, to encourage trade amongst the Countries.
While initial signing was possible during his term, negotiations made slow, but steady, progress. The Deal didnt get signed by the end of Bush's Term
NOTE: President Bill Clinton would go on to make the passage of NAFTA a Priority for his administration, despite its Conservative and Republican Roots.
*Unemployment rate reached 7.8%, the Highest since 1984. U.S. Census Bureau.
1993
Bill Clinton Sworn in as President on January 20, 1993.
1994
NAFTA Opens The Gate For A Stampede
The bill passed the house with 234 votes against 200 opposed (132 Republicans and 102 Democrats voting in favor, 156 Democrats, 43 Republicans, and 1 Independent against).
The Senate passed it by a 61-38 vote (34 Republicans and 27 Democrats voting in favor; 10 Republicans and 28 Democrats against, with 1 Democrat opponent not voting.
The Numbers Dont Lie. More Republicans Supported NAFTA.
Bill Clinton Signed The NAFTA Bill.
Wait!! What About The Free Trade Agreement (FTA)?
Even though The Nafta Bill was signed. There was Already a Free Trade Agreement Signed. People seem to have Forgotten about Ronald Reagan's Free Trade Agreement (FTA). Ronald Reagan's Trade Agreement Signed by Canada and the U.S. on October 4th, 1988. Nafta would go on to include Mexico into the deal.
NOTE: Bill Clinton Raises the U.S. Surplus to $127 Billion By the End of His Second Term.
1995
With the help of Secretary of Treasury Robert Edward Rubin. Bill Clinton Gave $20 Billion in US Loan guarantees to the Mexican Government.
NOTE: Robert E Rubin worked for Goldman Sachs.
1998
The Consolidation Game Gets Going
Beginning in 1998, J.P. Morgan Openly Discussed the possibility of a Merger and speculation of a pairing with banks Including Goldman Sachs, Chase Manhattan Bank, Credit Suisse and Deutsche Bank AG were prevalent.---New York Times.
Credit Suisse (CSFB) In the late 1990's Purchased the Equity Division of Barclays Bank.
NOTE: J.P. Morgan would stay True to the Plan in 2000 and 2008.
Part VI
2006
In Goldman Sachs We Trust
When it Comes to Finances. Goldman Sachs has Always Controlled The Decision Making.
The Entire U.S. Financial System is Under the Stewardship of Goldman Sachs alumni.
Former Goldman employees head the New York Stock Exchange, the World Bank, the U.S. Treasury Department, the White House staff, and firms such as Citigroup and Merrill Lynch
May 2006
Henry Paulson Jr.
The U.S. Treasury Secretary and member of the International Monetary Fund Board of Governors. He previously served as the Chairman and CEO of Goldman Sachs.
Heres a Brief List of Current Goldman Sachs Alumni.
Neel Kashkari. Now. Assistant Secretary of the Treasury
Kendrick Wilson III. Now in Treasury Department.
Steve Shafran. Now in Treasury Department.
Edward Forst. Now in Treasury Department.
Stephen Friedman as Chairman of the National Economic Council.
Robert K. Steel, Undersecretary left Treasury to take over Wachovia Bank.
Robert B. Zoellick, U.S. Deputy Secretary of State. Now President of World Bank.
Former Goldman Sachs execs now in Top positions in key World Institutions include:
Bill Clinton's Treasury Secretary. Now Director at Citigroup,
Lloyd Blankfein Now CEO of Goldman Sachs. and Gala Chairman for Rockefeller's Asia Society on New York
John Thain. CEO Merrill Lynch. Now President of Global Banking, Securities, For Bank of America .
Robert E. Rubin Bill Clinton's Treasury Secretary. Now Director at Citigroup,
Michael Cohrs , Now the Head of Global Banking for Deutche Bank.
Mark J. Carney, Now Governor of the Bank of Canada
Mario Draghi, Now Governor of the Bank of Italy.
Jon Corzine. Former United States Senator. Now Govenor of New Jersey
NOTE: George W Bush has assembled the wealthiest Cabinet in American history, The average wealth of President Bush's cabinet members is a shocking $10.9 million each. ---David Wastell, Telegraph.co.uk
Part VII
2007
The House of Cards Comes Tumbling Down
March 2007
The Subprime Mortgage Industry Collapsed, with many of the Largest Lenders filing for bankruptcy protection in the face of spiraling foreclosure rates.
For these reasons, Greenspan has been criticized for his role in the rise of the housing bubble and the subsequent problems in the mortgage industry, as well as "engineering" the housing bubble itself:
"It was the Federal Reserve-Engineered decline in rates that inflated the housing bubble … the most troublesome aspect of the price runup is that many recent buyers are squeezing into houses that they can barely afford by taking advantage of the lower rates available from adjustable-rate mortgages. That leaves them fully exposed to rising rates."----BusinessWeek,
NEW YORK (CNNMoney.com) -- Foreclosures hit another record high in August: 304,000 homes were in default and 91,000 families lost their houses.
More than 770,000 homes have been repossessed by lenders since August 2007, when the credit crunch took hold.
August 2007
Deutsche Bank Announced that it would be retaining Alan Greenspan as a Senior Advisor to its Investment Banking Team and Clients.
October 2007
Credit Suisse(Rothschild) was recognized as the "Global Investment Bank of the Year" in The Banker magazine's annual Global Investment Banking Awards published in the October 2007 edition.
PART VIII.
2008
The Bailout (Bank Robbery) Plan
March 31, 2008
On September 21, 2008,
Heny Paulson Releases The Paulson Proposal or Paulson Plan. A 212-page plan, The Blueprint for a Modernized Financial Regulatory Reform. The Paulson Plan will Later become The Bailout Plan.
The Proposal was Shortened to Only Three Pages long. It was intentionally short on details to facilitate quick passage by Congress.
"It seems clear that Paulson and Bernanke managed to hit the mark with their three pages. And even if dozens more are eventually added to sweeten the pot for important constituents with powerful lobbyists, the core of the project will remain the same."
Congress and the Bailout Plan: Business As Usual . Time Magazine.
September 2008
Chairman Christopher Cox and the other Commissioners agreed to end William H. Donaldson's 2004 Program of Voluntary Regulation. Why?
Because on September 21, 2008
Goldman Sachs Received Federal Reserve Approval to Transition from an Investment Bank to a Bank Holding Company.
The International Bankers No Longer needed The Deregulation of Regulatory requirements for Investment Bankers. They were about to Change the game.
September 22, 2008,
The Last Two Major Investment Banks in the United States, Morgan Stanley and Goldman Sachs, Both Confirmed that they would become Traditional bank holding companies, bringing an end to the era of investment banking on Wall St.
The Federal Reserve's Approval of their bid to become banks ends the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and caps weeks of chaos that sent Lehman Brothers Holdings Inc. into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.
September 24, 2008
Warren Buffett, who generally knows a deal when he sees one, announced yesterday that his company, Berkshire Hathaway, would invest $5 billion in beleaguered Goldman Sachs.
October 1, 2008
The Senate Passed the Entire amended bill by a vote of 74-25.
Regarding The newly revised version of the Emergency Economic Stabilization Act of 2008 for the language of H.R. 1424
NOTE: Additional Unrelated provisions added an estimated $150 billion to the Cost of the package and increased the size of the bill to 451 pages. Americans Still pointing fingers totally missed this chunk of Money being stolen.
October 3, 2008
The House voted 263-171. And President Bush signed the bill into law within hours of its enactment, creating a $700 billion Troubled Assets Relief Program to purchase failing bank assets.
NOTE: In mid-January 2008, Hedge fund Paulson & Co hired Alan Greenspan as an adviser on economic issues and monetary policy. This is the third private role given to Alan Greenspan, the first two being given by Deutsche Bank.
The Unemployment rate (6.1 percent) was unchanged in September, following a 0.4 percentage point rise in August. The number of unemployed persons was little changed at 9.5 million. Over the past 12 months, the number of unemployed persons has increased by 2.2 mil- lion and the unemployment rate has risen by 1.4 percentage points.
Oct. 24, 2008
Alan Greenspan, the former chairman of the Federal Reserve System, went before Congress Thursday and admitted he was Wrong to Trust the Markets to Regulate Themselves, but he didn't utter the magic words, "I'm sorry." Instead, Greenspan said, "I still do not fully understand why it happened." DAN HARRIS, ABC NEWS.
Can you believe it. He Doesnt Understand why. Yeah Right!!!! I bet you Dont Alan.
