American "Tax Payer Lubrication Act" Almost Complete: $700B

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They're almost finished with the Wall Street bailout Bill. There's only a few pieces of pork left to be added. Congress is going to stick it to the tax payer for their inept handling of their "give mortgages to anyone no matter if they can afford it or not, because they're a minority or low income American" policies.

We need to throw every last member of congress out on their butt. I don't recall any member out on the steps of the the Capital Building yelling at the top of their lungs that the mortgage system in this country needed to be reformed or a financial collapse would occur. So either they were inept and derelict in their duty or they just didn't care. Either way, they need to be thrown out and replaced.




Congress Expected to Pass Massive Wall Street Bailout

Sunday, September 28, 2008

WASHINGTON — Key lawmakers who struck a post-midnight deal on a $700 billion bailout for the financial industry predicted Sunday it would pass Congress, putting in place the largest government intervention in markets since the Great Depression.

Flexing its political muscle, Congress insisted on a package that gives lawmakers a stronger hand in controlling the money than the Bush administration had wanted. The rescue plan casts Washington's long shadow over Wall Street with the federal government taking over huge amounts of devalued assets from beleaguered financial firms in exchange for more oversight.

Under the plan, lawmakers could block half the money and force the president to jump through some hoops before using it all. The government could get at $250 billion immediately, $100 billion more if the president certified it was necessary, and the last $350 billion with a separate certification — and subject to a congressional resolution of disapproval.

Still, the resolution could be vetoed by the president, meaning it would take extra-large congressional majorities to stop it.

The proposal is designed to end a vicious downward spiral that has battered all levels of the economy, in which hundreds of billions of dollars in investments based on mortgages gone bad have cramped banks' willingness to lend.

Channel: News & Politics
Uploaded: September 28, 2008 at 3:57 pm
Author: jbranstetter04

Length: 00:03:30
Rating: 4.43
Views: 769

Tags: 700 billion bailout mortgage wall street congress vote loan mccain obama fannie mae treasury scandle banks housing loans

Video Comments:
WeRevealTheTruth (October 13, 2008 at 12:55 am)
Google this: stop-obama-constitutional-cris is

Go to the 3rd or 4th site and sign.

THIS IS NO JOKE PEOPLE! GO GO GO GO GO!!!!!!
GagnezTV (September 30, 2008 at 3:06 am)
No BAILOUT!

-G


"All I Ever Wanted Was To Do Right (Riiight)"
Griz806 (September 29, 2008 at 11:02 pm)
And, supposing says I naively, they don't get the ransom? Wonder what would happen then? Let your congress critters know what you really think, no, I'm not trying to tell you what that is. Just give 'em a piece of your mind, they already have a piece of mine;-)
FiatLux8888 (September 29, 2008 at 9:39 pm)
RUH RO! The People of America refused to bend over for the money changers!

Google The Money Masters
ryanshaunkelly (September 29, 2008 at 2:35 pm)
The Wall Street Bailout Bill:
Bush McCain Obama et al.

The Realignment Of American Politics:
Anderson Baldwin Carter Choate Clemente Gonzalez Gravel Kaptur Kucinich McKinney Nader Paul Perot Sheehan Ventura
cosmicgrrl69 (September 29, 2008 at 1:22 am)
my bad. i meant to say corporatism.
genestarwindjf80 (September 28, 2008 at 10:15 pm)
We be all broke thanks to him.
cosmicgrrl69 (September 28, 2008 at 8:50 pm)
good bye to capitalism. hello to socialism
Voidka (September 29, 2008 at 12:17 am)
Its Corporatism aka Fascism, not Socialism. Jesus Christ, why is it that people don't know the difference. If it were Socialism, then the American citizens would be the ones getting the $700 billion.

Anyways, the bail out is going to result in a huge backlash by the American people. They are definitely going to be pissed when the bail out only alleviates the problem for a month or so.
onecelticwarrior (September 28, 2008 at 8:23 pm)
Bend over & get the Vaseline,US Taxpayers are about to get royally reamed.