Very unsettling times!

oh yeah....so we are saved! :D
 
j_chicago said:
So everyone wants the government to step in and protect their investments and create stablity in the market, but want a free market?

Sure these guys made millions, but they also created a market for growth and allowed us to live the ways we do.

So we could have a witch hunt on the CEOs, CFOs, and companies in the market. Or we could try to fix the situation to insure the credit market.

Not sure everyone here realizes what this market brings to their lives. Want to go to college? Student loans, my wife has friends who have been granted student loans, and the check they are depending on to pay living expenses isn't showing up. Need a new roof on the house? Save your pennies. Water heater goes out? Use what little retirement savings that survived. Your business needs a new computer or need to order product? COD. Think you can take out a home equity line of credit to pay for the new kitchen cabinets? Try it, or go try to get financed at a furniture store.

There are already car dealerships closing due to no sales since people are not qualifing for a car note and markets such as home improvement are also feeling it. I had to pick up a part time job since I couldn't get banks to give people mortgages, even though they qualified for FHA loans and had a FICO of 600+.

If some of these companies stick around, how eager think they will be to give money to you or I? Once bitten...

One step closer to socialism? Maybe. But it is atleast a step toward trying to save the credit market. Or like I said, we could witch hunt, and start from scratch, maybe our childern/grandchildren will be able to buy a house in their lifetime (after all, its going to be hard to build up your credit when no one will give you some, sorry all you in high school now, better learn a trade (car mechanic! Since there will be less new cars on the road), or save some allowence for college, cause your folks won't be able to take equity out there home to pay for it).
Click to expand...


Not sure from this post if you are for or against the bailout. You start off by saying we like having a free market so it would seem you are against the bailout as saving companies does not equate to a free market.
But then you go on to say without the bailout there will be no credit which seems it means you are for the bailout.

Do you really think new companies won't spring up and replace the old failed ones? What needs to be done is better rules and regulations to prevent this so when the new companies start up they aren't put into the same predicament.

Now as for the maybe on moving towards socialism....MAYBE?!!!!

From the Communist Manifesto:

5. Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.


Is that not what the bailout is doing? The Federal Govt buys up the credit companies and banks and runs them themselves.
 
IceH2O said:
Is that not what the bailout is doing? The Federal Govt buys up the credit companies and banks and runs them themselves.
Click to expand...


except that you'll see that with at least the large WaMu takeover.. it was taken over, and immediately sold to another large bank.

I don't foresee the gov't owning all the banks.
 
IceH2O said:
Is that not what the bailout is doing? The Federal Govt buys up the credit companies and banks and runs them themselves.
Click to expand...

The bill doesnt allow them to buy financial institutions it just makes them agents of the government outright to do whatever the government tells them to do. From the bill itself below read (3), really a scary thing this bill is.

Sec. 2. Purchases of Mortgage-Related Assets.
(a) Authority to Purchase.—The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.
(b) Necessary Actions.—The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
(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;
(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and
(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.
 
blissskr said:
The bill doesnt allow them to buy financial institutions it just makes them agents of the government outright to do whatever the government tells them to do. From the bill itself below read (3), really a scary thing this bill is.

Sec. 2. Purchases of Mortgage-Related Assets.
(a) Authority to Purchase.—The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.
(b) Necessary Actions.—The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
(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;
(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and
(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.
Click to expand...

Thank you for posting this, I was going to get around to it eventually. I disagree that this is not creating a government bank, it just veils it with interpretable words. We were scared into allowing Constitutional rights to be stripped from us by the Patriot Act because of a terrorist act. Now we are allowing further erosion, this time in the financial area in response to a financial crisis promoted by the government encouraging (ACORN anyone?) people and companies to live and grow beyond their means. Thomas Jefferson would vomit and move back to England if he saw this.
 
blissskr said:
The bill doesnt allow them to buy financial institutions it just makes them agents of the government outright to do whatever the government tells them to do. From the bill itself below read (3), really a scary thing this bill is.

Sec. 2. Purchases of Mortgage-Related Assets.
(a) Authority to Purchase.—The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.
(b) Necessary Actions.—The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
(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;
(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and
(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.
Click to expand...


Buy... Run...

Really whats the difference?

What you posted just shows what I stated, that its leading us to proposal 5 of the Communist Manifesto.
 
chefjamesscott said:
oh my your little one unplugged the freezer yikes

we had a little freezer here that i kept catfish an shrimp in that got uplugged musta been for like 5 days and then the slight smell showed up so we hunted an hunted thinking it was the drain we ran water all night to flush it only to have that smell still there in the morning

imagine when we cracked the freezer just to see oh my uppercut knock out smell even febreeze would not help :P
Click to expand...

Hooked Newbie said:
I'm going to be intentionally vague to avoid violating the spirit of the thread and wishes of the Mods. No "paper" economy has ever survived. Once we left the gold standard we were susceptible to the practices which have brought us to this point. I agree that a revolution is needed. Now is the time to follow what's going on and to speak up to your elected officials at every level. As the old joke states, politicians (of all leanings) and diapers should be changed frequently and for the same reasons.

I also recommend everyone google the term Amero and do some reading of their own. Alot of this has been forseen and promoted.

Mods, feel free to edit or delete if anything appears out of line. It wasn't intended.
Click to expand...

blissskr said:
This guy explains it pretty good. http://www.youtube.com/watch?v=MO6P...et/archives/587-The-Mother-Of-All-Frauds.html
Click to expand...
:eek3: OMG !!! I looked amero up, and watched the youtube video. scary and I am one who believes this will happen. :( very scary times indeed.
 
Well the bill passed the senate and its now swelled to around 540 pages who knows what else they've hidden it this time. Hopefully the house rejects it again.
 
You must log in or register to reply here.
AquariaCentral.com
Top Bottom