socialized banking!

[goldpony]

so this bail out effectively puts the power over out financial sector in the hands of the goverment. i wonder how long?..........

http://www.time.com/time/business/article/0,8599,1843213,00.html

http://www.thebigmoney.com/articles/judgments/2008/09/21/henry-paulson-socialist

[Variable]

oh no, you got me started.  I will officially never shut up.  I hate this buy out so much.  I hate the Federal reserve, I hate centralized banking, I hate not being on the gold standard, I hate the treasury department, I hate Alexander Hamilton, I hate inflation, I hate the deficit...............grrrrrr

I dont think 95% of Americans have any idea how horrible this is

[neurotic]

I dont think 95% of the world have any idea how horrible this is

here, i fixed it.

[Variable]

thank you thank you

[devilinside]

oh no, you got me started.  I will officially never shut up.

Thanks Josh! 

[Variable]

yeah, I dont even know where to start on such a big subject

[Variable]

I guess a good place to start would be to have you peoples start looking at this site every day http://mises.org/

At the root of the problem are not mortgage-backed assets as such but the Fed's boom-bust monetary policies. It is the extremely loose monetary policy between January 2001 and June 2004 that set in motion the massive housing bubble (the federal-funds-rate target was lowered from 6% to 1%). It is the tighter stance between June 2004 and September 2007 that burst the housing bubble (the federal-funds-rate target was lifted from 1% to 5.25%). The rescue plan, meanwhile, could create the mother of all recessions.
read more...

[Shaye]

oh no, you got me started.  I will officially never shut up.  I hate this buy out so much.  I hate the Federal reserve, I hate centralized banking, I hate not being on the gold standard, I hate the treasury department, I hate Alexander Hamilton, I hate inflation, I hate the deficit...............grrrrrr

I dont think 95% of Americans have any idea how horrible this is

Maybe I don't know the level of horrible-ness, but I know it's pretty horrible.

I'm pretty sure what gave it away was you stating that you hate Alexander Hamilton. LOL.

[Variable]

fuck that guy.  Adams and Jefferson both thought he was bat shit crazy

[bright lights, big city]

Alexander Hamilton was a serial killer. FACT.

[nonesuch]

Jekyll Island is where it all began.  Our money has been in the hands of the "private" Federal Reserve since the early 1900s.  They print our money (based on nothing since the gold standard was dissolved), and the government imposes the income tax to pay the Fed the interest on the money loaned to them. 

Private property ownership is one of the greatest aspects of being an American (certaintly not uniquely so)  and it is being bought from us under the guise of "saving" us from the failed mortgage companies.   

[Variable]

Are you sure that you want to say stuff like that after I have already started to blame the fed and called for a return to the gold standard in this topic?  I thought I was just some idiot that didnt know anything because I dont use a torrent?  Now you agree with me?

[nonesuch]

you often have insightful intelligent insight on a wide range of topics, but i when i read your !!!!!!SPOILERS!!!!!!!   I couldn't help but lose a lot of respect for you.  Honestly man, for you to get so involved with a completely set up line fed pseudo drama like the hills makes me think you are less than cognizant. 

But on topic, we are we more steadily heading toward a completely government owned and controlled state.  The Gov is buying up a large percentage of the mortgages at a rapid rate, and will eventually take away our right to private ownership through purchase.  People need to realize this is happening right under our noses.  They are (as you said Variable) manufacturing these recessions to create hysteria and force people to look to the Gov for help.  All the while it was their master plan to steal the very freedom they claim to protect

[Variable]

It doesn't take much for me to write a 5 sentence statement about the hills.  I didn't spend hours thinking about it. It maybe takes a min to type up.  Just for fun, just to be stupid.  Im allowed to relax and be stupid.  Chill out a bit.

But yes.  This is the government taking over private property.  We are already a government owned state.  They are just being more and more bold about it as people accept and become comfortable certain policies that infringe on our liberties and the constitution.  None of this is normal.  It should not be accepted as such. 

The Federal Reserve knew exactly what they were doing when they lowered interest rates to almost nothing.  They knew more and more people would get approved for loans they could not actually afford.  They knew that housing values would shoot through the roof, so that people felt they had more wealth than they actually do.  They also knew this would all crash.
Think about it people.  The government caused this problem.  Men much more educated than me caused this.  It was no accident.  Do you really think the government has good intentions by solving the problem?

How are Obama and McCain responding? Are they fighting for you, your liberties, your property, the futures for you children?  Nope, not at all.  Yet most of you will still vote for them because they tell you that you have to or else you are wasting your vote.  Seriously, think about it.

[Oldnewtype]

for once i actually agree with you wholeheartedly

[Oldnewtype]

section 8 of the bailout package:

    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.

In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.

[Variable]

for once i actually agree with you wholeheartedly

Yeah, there must be something to this if we both agree on something

section 8 of the bailout package:

    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.

In short, the so-called “mother of all bailouts,” which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People’s duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.

Yeah, no accountability what so ever.  You cant audit them, cant have a commission set up to determine the obvious ( they are purposely setting the middle and lower class up for failure for their gain)  Can't prove that they are purposefully inflating the dollar in order to make money.  Cant do shit.  Zero accountability.  We are putting absolute trust into the federal government.  That is scary.  All of you with children, should be terrified and start to do some research on this.  There is not a very bright future for the next generation of Americans.  But there is not enough people who are informed about this to make a difference. 

[nonesuch]

I'm in Bangkok right now, and over the last few weeks their was a major insurrection and the prime minister was ousted.

This happens every so often out here and in lots of other countries.  Why cant Americans protest and camp outside of the white house and get Bush impeached (I realize it's too late now, but why not before)?  I dont even have to point out the hundreds of atrocities that owe their birth to him and his administration. 

Is it the actual Americans' fault for not making a bigger issue of the situation (apathy), or does it have to do with the way our system is set up (power structure)?

[bright lights, big city]

we (the public) could never oust the president. not that people don't WANT to, it just will never happen.

[goldpony]

so we let our children and our childrens children take on this burden by increasing our national debt! on top of that, we give unlimited financial authority to the goverment and the fincial sector receives huge taxpayer money to pay for corporate bonuses! AND, they dont have to pay it back! man, bush sure likes to reward his friends.....