OT - Is there a citizen backlash coming for congress passing 700 Billion $ Bailout? - Page 7

Hi Ulli! Yes, it is hard to believe (no, it is really easy to believe) that the AIG group made a party out of their "rescue". This is part of the criminal ideology that exists in corporate America. No decsion is a bad or wrong decision. The upper executive management has nice contracts that protect them even if they do a bad job or face criminal charges. So what is some members of Congress were upset/disappointed about this behavior? Nothing at all will happen. They will not pay any of the money back.

I worked for one (1) company for twenty-six (26) years. The company grew in size because of good decisions and a good market. Then, a new CEO (from the managing board of directors) was hired, and he made all types of bad business decisions. But, he kept his job, his salary, and his bonus. His bonus was paid for a "job well done" every year as the company went from 9,000+ employees to just more than 3,000. Twenty-six (26) operations to five (5) operations. But, he was still paid a bonus every year for a job "well done". He had really good friends on the board of directors who protected him.

And recently a few new people were added to the board of directors and he is "suddenly retired". Wow. And he was "thanked" for guiding the company through a changing market. Yes, he was "thanked" for destroying a company that was once a solid American company. But this behaviour is so prevalent in business as well as government. Men can be powerful business competitors or even sworn political blood enemies, but in a time of crisis they always protect each other. I guess because no one else will do this for them, or they have a certain strong envy for their opponent. Or perhaps it is a very bent sexual abberation. Who really knows? I am not a psychologist.

I read the Frankfurter Allgemeine the other day about the failure of Hypo-Real Estate in Germany. I remember seeing the Hypo-Banks, but did not realize they had their hands so deep in the real estate market. And now look at the country of Iceland-Oli's home. The country is declaring bankruptcy. But I guess the real question is; where did this really begin?

Best Regards,

Bob-O

Begin?

From the World Banks, IMF,  Federal Reserve, Central Banks AND Fractional Reserve Banking

Some of these banks like JP Morgan, were levered 2000:1  against their Cash. They used assets on the books to buy more assets, and leverage those assets to buy more.  Its utter insanity

It could be stopped tomorrow.

Let all  Failed Banks Collapse. Solved.       Rather, they have the public 'bail them out'  & include us in their fall,  subsidizing their follies, printing us into ruin & creating hyperinflation, when at worst, we would have one year of hard times, with many bank failures.

'Whoever controls the volume of money in any country is absolute master of all industry and commerce.'--President James A. Garfield

Who should we blame?
Actually, 3 culprits stand out in this mess. Alan Greenspan, Phil Gramm, and George W. Bush.

Alan Greenspan loved the derivatives and their bonus programs, and as Fed Chairman, he pushed this insanity further along on Wall. He praised the 'model efficiences' ie Credit scoring modules implemented, ripe for Fraud, & also encouraged ARM Loans, while rates were near all time lows. This was stated in 2005.

Phil Gramm, as Senator, UBS bank VP and lobbyist, and chief economic adviser to John McCain, personally made hundreds of millions, while pushing forward the massive deregulation of our financial industry. Had Phil failed, we might still face a recession (these cycles can never be broken), but not the deep depression we now face.

And then we come to George.
His push for ever more sales, ill-advised home ownership, and more deregulation, acted like jet fuel poured on a massive forest fire. His anti-government mantras hid the fact that his cronies were enriching themselves, while deliberately turning a blind eye to out and out theft and fraud. (the countless billions lost in Iraq alone could save 20 million American families)
And those parts of the federal government tasked with preventing this insanity? For the most part, they were cheerleaders, making sure that the haves and have mores kept getting ever richer.

As a measure of how screwed up our country has become, we have squandered more than $120,000 per person in Iraqi. That ignores the fact that we caused the deaths of more than a million of them, and made 4 million others homeless, jobless, or starving refugees in nearby countries. By any objective, rational measure, Iraq was, is, and will be an abject failure, despite John McCain's obscene claims to the contrary.

For the past 8 years, the entire US economy has amounted to little more than a fraud, a Potemkin Economy, of sorts. Prince Grigori Alexandrovich Potemkin, lover of Catherine the great, lord of the Russian armies, and commander of its navies, was accused of orchestrating fake villages to convince Catherine and foreign visitors that her economic plans actually worked, while the serfs continued to suffer in utter destitution. In reality, Potemkin was given a bum rap because jealous German historians feared Mother Russia above all else.

As much as the Potemkin Villages were a fiction, our "strong" economy is even more of a fiction. The only thing strong about it is the stink it sends downwind. The only thing worse is watching Treasury Sec. Paulson and hapless Ben Bernanke flail away each day, calling for emergency press conferences, assuring us that all is well, while the building in background collapses in flames. Hurricane Katrina had nothing on these guys.

Sure, there are other culprits, especially Dem and GOP leaders from both houses of congress. It is a pity that we no longer cherish brains and ability when electing congresscritters and senatwhores. In fact, if we took John Bolton's prescription for the UN and applied to those currently infesting our Congress, then replaced them with 100 new senators and 435 new congressmen by simply picking them randomly off the street, it is unlikely that they could do any worse.

But back to my original point. We already are in a quiet revolution. The question is where we will go from here. Will we remain quiet? or will we get as angry as circumstances and enraging facts suggest we should?

One choice, our best choice, is a quiet revolution with massive bankruptcy law changes, moratoriums on foreclosures,(and return to property for those evicted this past year), the federally enforced rewriting of the most outrageous mortgages, indictments and convictions of many of the Wall Street barons, and a thorough federal take over & change of the entire usury credit card industry.

The other choice is far less appealing.

I know where it all begins, and how it happens. Loans made with phoney-baloney nonexistent money that is "borrowed" from further up the phoney-baloney money chain. And, then there is a minor ripple,  and an outside entity demands to be paid, and there is nothing with that to pay.

Some have proposed term limits for our Federal Representatives and Senators, similar to the office of the President. While mandated term limits sound good, I think that the voters must determine term limits. But they seldom can due to well-financed and well-ran political machines that do not allow any true competition. For five (5) years I lived in Arkansas-a state that through public referendum imposed term limits on its state representatives and senators. Does it work? Not as well as you think. A state senator "terms out" and runs as a state representative for his/her district, and vice-versa.

But while I lived there, a remark was made that rang very true. Since the imposition of term limits, not a single Arkansas lawmaker was under placed under indictment or had to serve time in prison!

Regards,

Bob-O

DC is A Ciminal Organization, run BY criminals, Protected BY criminals.  A Gang or Mafia if you will, all co conspirators

Phoney Loans is right, but please consider that we have an Unconstitional Federal Reserve (neither Federal nor a Reserve) which encourages & practices Fractional Reserve Banking.

Some Investment Banks (JP Morgan) were leveraged 2000:1

They made loans, used those assets to make more loans, & used those assets to make loans.

10 Million could get 1 Billion in loans. Now bogus, Fraud paper.   And the proceeds were further invested in derivatives. Bets on Bets,  that gave them maximum exposure to loss.    Warren Buffet couldnt figure them out  & called them ' financial weapons of mass destruction'.  They  literally require a PHD rocket scientist to figure them out.

Yet our banks, insurance companies & others invested in massive amounts. We as a nation are Now Bankrupt.  We are on the edge, facing a Total Collapse. Buy Guns

ohhh turn it up sum .. http://funkvigilante.com/WorstPresidentEver.shtml#musicvideo

That one was way overthe top BabyEagle4U.  Hard rockin truth.  Sadly it was 100% accurate. Thanks for sharing it. We need more of this.  A couple of years ago this video would have produced a visit from the feds or worse.  Now things have broken down so far and so much truth has "broken out" in the public arena that nobody in dc cares.   As the days go on, more and more of the citizens are learning the truth about how our gov't institututed the 9-11 twin tower/pentagram attacks using "gladio style" false gflag, inside job terrorism. 

Hi Robert,

hope you are doing allright. Yup, you are right, the *hit start trickeling down the ladder ...... many uncertaintys here in Europe. We, for instance, had decided a couple of month ago to do some work on our house ( besides building our new kennels), had all the plans drawn, actually choose the company to do the work. Now we may as well stay away from our plan, because it can not be forseen how our savings will end up, if we will even have savings anymore !!

I talked to a friend of mine yesterday, and he said many saw it coming, he especially wondered about a guy living in his neighbourhood who had bought a house, bigger & nicer than his own. The guy worked at McDonalds and his wife is a stay at home mom. My friend always wondered how he could affort to do so.......... now that family had to move out and the house is on sale for a fraction of what it did cost !

I am not religious too much, but I do pray that this ordeal will not trigger, what many peopel see coming.

BabyEagel ...... that is something, I bet George does not like it ! Sadly enough, truth spoken, pardon sung out.

Best to all

Ulli

I have a question for the active military and LEOs on this board.  Hypothetically speaking (at this point) If things really do fall apart like they are seeming to do, are you going to be prepared to use force against your friends, neighbors, fellow Americans to prop up a government that is operating contrary to the Constitution that you are sworn to uphold?  After all, at the end of the day, YOU are their hired muscle.  Without you they have no power.  Might be something that you want to be thinking about.

PSP,

hopefully, nobody has to ask himself these questions. But certainly a very scary thought. When I was in the military way back when, we were trained to obey orders, as long as they were legal. As long as we did not know, with 100% certainty, that an given order was illegal or against a law, we were told to carry out that order and complain afterwords ! Something I have my problems with today, I gues I got older and more reluctant to do what other peopel tell me to .......

I really do hope, that no military or LEO personal will ever have to make that decission. And if they have to, I wish for them, that they can live with that decision for the rets of their life. Some tough *hit.

Ulli