Bailout Agreement Highlights

Dis is Treasury plunderin in de first degree n don’t kid yo self bout. Pirateships a Finance is shoutin dey are sinkin n de pirates is goin to drown wid out de honest folk patchin up de Pirateships sos de pirates kin git back to business as usual. Dis will end up causin inflation dat may top 1946 Hungarian model. Look dat one up fo yo self.

Barney Frank: GOP Colleagues Winced At ‘Mighty Mouse’ McCain
One would think that some of John McCain’s Republican colleagues might actually want to help him become president of these United States, but no: given the opportunity to ensure that the presidential candidate might be able to make a substantive contribution to bailout measure negotiations, McCain’s friends in the Republican Party put their noses to the grindstone and worked out a deal without any Maverick input. Clearly Republican leaders are totally in the tank for Obama.
How painful was the thought of working alongside McCain? Over at Politico, they report that Barney Frank minced few words, saying: “Nobody mentioned him. The man’s irrelevant to the whole process. No Republican mentioned his name. I’m the only one who raised his name. They winced when I did.” Frank also compared McCain to a cartoon superhero:
“He’s been irrelevant to the process. He remains to be,” said Frank. “I was afraid that his dropping in here, like Andy Kaufman’s Mighty Mouse — ‘here I am to save the day’ — I thought that would slow things down. I didn’t see any sign of our Republican colleagues paying any attention to him whatsoever.”

Highlights the dollar is NOW toilet paper. Hello Amero! Goodbye America. We have effectively been deconstructed as a nation. Now we’ll just open up those borders, have all our kids in the military, govt. or police, and spend our lives in fear from them either seizing our property in the hands of the state or doing nothing while somebody steals, murders, beats down or kills us in our neighborhoods. Thanks Obama, McCain your slimeballs of Congress. YOU did this, and now your taking your (OUR) money and leaving the damn country. If this doesn’t tell you YOU are worthless to the ruling class (yes Obama is a part of it!) then NOTHING will! What’s more pathetic Congress or the people who allow them to destroy our country??? It must be a tie!

“The government is required to modify mortgages which it owns or controls outright”
Since these mortgages have been sliced and diced into mortgage backed bonds, how will anyone know who owns them? Isn’t this one of the fundamental causes of the crisis, that it is impossible to separate the good from the bad mortgages? This sounds like a meaningless proposal thrown in only for political cover.

Bhrandon,
Funny you asked.
McCain’s skin cancer is back, according to the rumor mill.
Is there a way to force him to release his recent medical records?
If the prognosis is what they say it is then McCain has less than 3 years to live.
The American voters have a right to know or we may find ourselves with a Voodoo Priestess as President in 3 years if McChicken Little is elected.

How many homes have gone into foreclosure in the last two years? How many MORE homes will go into foreclosure in the next two years? What are we going to do for the people who lost their homes between now and two years ago? What are we going to do for people who will lose their homes in the next two years? If these questions are not answered, the “bailout”, whatever it “contains”, is just another “get rich windfall scheme” for the banks, who are holding the houses they took from Americans. Even when they could receive rent checks from people who were regularly paying rent on time, the banks said, “No. You have to get out.” Why? Because they expect to get close to 2006 or 2007 value from those houses a year or two, or more, from now, and the rest of this scam is just to cover their “tight money flow” between now and then. I say they have to turn ALL those houses over to the US Government for individualized sale (Veterans should be the first possibility for buying those houses). But who cares what I think. I only work and pay taxes, so I don’t know nutttin’. Yeah. Oh, yeah. Wall Street needs confidence because Wall Street is just a bunch of confidence men.

“It’s a crisis” – but McCain still had not read Paulson 3 page plan that’s been out since Sunday nite?
“I’m suspending my campaign” – but not Palin’s?
Come On – Polilics 1st, Americans ignored

BAILOUT – CRISIS – MUST ACT NOW
What about the weapons of mass destruction? This Administration has tapped into the Treasury with wanton lust for its contents and now we have a ‘real crisis’ or the sky will fall. This Administratin is untrustworthy and giving them any check, blank or limited, is like giving a drunk a bottle of whiskey for safe keeping. We may have a crisis but I’m not in the “we” group, I work for a living, I have a family that I care about, and I’m not racist or a bigot. Mexicans can come and work for all I care, they’re like a family moving from Jersey to California. They are humans, they are our brothers and sisters and we are their keepers for the principle is the same We Stand United, or if divided by greed, religious beliefs, and ignorance we shall fall.
Time for a change in course before we end up on the shoals.

Over the last twenty-five years “We the People” have heard the same message from the democrats — the republicans want to give tax breaks to the rich. Did it work in 2000? Did it work in 2004? Of course not, because the public is wise to the class warfare argument being a trojan horse. To have Biden, a rich pal of the Kennedy’s, saying that he cares about the poor is hilarious!!
The only reason that Obama is getting any traction is because of the war. But even that is not important as an issue any longer.
George Bush did not create the current economic crisis. Obama does not have a plan to fix the crisis. At least give Bush credit for putting up a plan to solve the crisis.
Although Bush’s plan is expensive, I believe that he sees it as necessary to stop the hemmoraging of the economy that will spiral out of control, and cause a global recession if we do nothing. Credit card debt and banks folding cannot occur without everyone in the U. S. suffering greatly.
The prices we pay today for food and gas will triple if we do nothing. I was in East Germany when their currency became irrelevant. The same could happen to the dollar if we do nothing.
An imperfect plan is better than inaction. Bush is right. Although it is repulsive to most American’s, if we do not come up with a plan to help the economy every American will become outraged when gas hits $5 a gallon and a loaf of bread costs $5. How will the average American eat then?
At least Bush is looking at the long-range effects of the crisis. We need to protect “Joe six pack” by doing something to save his home now. Inaction is unacceptable.
Obama has no plan. He only offers criticism. He is an empty suit, and people are beginning to see it.
The following is an exert from your ABC news link “Bailout Highlights”:
Struggling Homeowners: The government is required to modify mortgages which it owns or controls outright to prevent foreclosures and where possible coordinate efforts to modify loans it does not control. Also, a portion of future profits from the plan are to be used to fund existing affordable housing programs.
This shows the flexibility that enables the government to prevent further foreclosures. This is a good plan. It may not be the best plan, but it is better than failure. Failure is not optional. McCain understands that failure is not an option!!

It is just wrong for the federal government to help Struggling Homeowners by outright preventing foreclosure if the homeowner is not at least paying interest on the loan.
What about all the people that saved money and put 20% down and were careful not to buy a home bigger than they could afford? Is Big Brother going to help them too?

Fannie Mae and Frankie Mae starters, Bill Cliton and Rick Davis, have a Blood Diamonds for Morgages, fund raiser. While people in America, are suffering.
Even after passing deregulations, Clinton embraces a chance for one last smile. The way Bill Clinton and Rick Davis, have helped take morgages, from americans, and gave money to Africa.

What I want to know is what happens to the fat cats that made this happen. And why didn’t anybody listen to Hillary 4 years ago that if something was done then there would be hell to pay looks like she new what she was talking about. The fat cats got millions in bonuses plus a gigantic salary, and their getting more without a payback for the errors they made. This is like fixing a hole in a dike with bubble gun first find and fix the problem before bailing them out.