Posted on 09/19/2008 6:25:34 AM PDT by kellynla
Arthur Henning of the Chicago Tribune said back in 1935, "The New Deal will bring the Communist Party within striking distance of overthrow of the American form of government…" Mark Sullivan of the Buffalo Evening News also expressed alarm in 1935: "The New Deal is to America what the early phase of Nazism was to Germany…"
The nation is awash in fear because they are coming to realize that while they’ve been buying all the hype from the cabal of gangsters in Washington for decades, reality is now setting in as poverty is slamming millions who used to belong to the middle class. From dangerous lending practices to the derivatives time bomb waiting to go off and inflation getting ready to launch into hyper inflation, the situation is more grim by the week. A financial catastrophe so many have been warning about for decades, it’s all coming home to roost. The "perfect storm" as it’s being called. The beast is now devouring itself and we the people are caught in their cross fire.
Unfortunately, most Americans haven’t been listening. They’re either addicted to sports, shopping, porn, drugs or yaking on their cell phones while the world has been heading for financial Armageddon. Oh, they perk up when they hear things like how many new jobs Bill Clinton created! Clinton used to love to brag that he had created 14 million new jobs during his tenure. He did? Sure, and Mr. Jones can thank Clinton for all three of his minimum wage jobs while Clinton supported the destruction of our true and meaningful job bases: ag, industrial and manufacturing. George W. Bush has steadfastly supported the same destructive redistribution of America’s wealth into the hands of foreign countries while our people go without - backed up by both Democrats and Republicans.
(Excerpt) Read more at nationalexpositor.com ...
That is exactly what I have been thinking....isn’t all this bailout illegal?
Since when has Congress let the Constitution stand in their way? Probably 80% of the laws they pass and money they spend is NOT allowed by the Constitution.
Maybe it is time to find that perfect country you envision with your unfailing policies and error free management. It’s pretty easy to sit at your computer and type criticism, but I don’t see your name on that perfect legislation.
That’s a good article. That web site is interesting but a bit on the conspiracy side.
Well, that would be because I am not a legislator.
When you install a safety net under all private business, you reduce the perceived risk to those who own the company. Jumping in to save private stockholders with public money is not only unconstitutional, it's bad business. Any Congressperson who says they aren't beholding to lobbyists and votes for a bailout is lying through their teeth. At one time you could count on the GOP to try and rein things in...no more. The GOP is as bad as everyone else. I say toss the lot out in November.
Right is right, and wrong is wrong.
It is WRONG for the US government to punish all American taxpayers for the illegality of a few private citizens and representatives. It is idiotic to say that because there is no perfect system, we should just shut up and take our lumps when those in power abuse that power to line their own pockets.
Any time that humans are involved in a system of any type, it can be corrupted. The key to saving our civilization lies in how we respond to that corruption, and how we rebuild the system when we have the chance. Bush made the decision to weaken system by bailing out the guilty parties. McCain wants to create ANOTHER government entity to monitor the markets. No one is doing what keeps this kind of thing from happening in the first place... PUNISHING THE GUILTY, and letting them fend for themselves.
But there isn't a safety net under all businesses. There's been plenty of failures, losses of jobs, and loss of equity to go around.
Jumping in to save private stockholders with public money is not only unconstitutional, it's bad business.
It's perfectly constitutional unless you or someone else can get the SCOTUS to say it isn't.
That's it. Blame Americans. It worked for Jimmy Carter. /s
First of all, your omniscient attitude displayed in this post belies the fact that your butt may have just been rescued by this step. It is not WRONG, sir, for the government to take steps to prevent millions of American citizens from losing trillions of dollars because of conditions.
The so-called “few private citizens and representatives” that you refer to are likely those who voted to alter some of the regulations, to the great delight of most of the public and 98 of the senators who voted on it at the time. There was a consensus that we were over-regulated and the world economy demanded we get more competetive. Guys like you were screaming, “Why are the illegal restrictions of this government stopping my freedom???” So, they relaxed the rules.
As happens, some took over-advantage and the pendulum has swung. But, ride the wave we did. And you benefitted. So, you were just as culpable as your bad guys. Grow up. This is not about “corruption”, but you sound like a silly little boy laying on your back kicking your heels. The stock market is recovering and salvaging your investmensts, so be grateful and put away the “I shouldn’t be punished for Jimmy stealing the twinkie”.
The world is complex and difficult. Let’s tear out all the wires from the space shuttle because they are just too hard for you to understand. Please. You have no idea what you are ranting about.
Very true. Only those businesses that have a lot of employees (i.e., voters) are protected.
It's perfectly constitutional unless you or someone else can get the SCOTUS to say it isn't.
This is saying that nothing is illegal until the law is broken and someone tests it in court. That's not how the legal system works. You are charged with a crime, whether tested or not, and then the court judges this instance of the crime. One person may "get off" without sentence based upon the weight of evidence. Another person, tried for the same crime, may go to jail because the evidence is different. Bailing out private companies is not constitutional and, if I had the resources, I'd bring suit. The fact that I haven't makes it no less illegal than before. Perhaps someone with deep pockets will put an end to it.
Tell that to the Lehman employees, and the other hundreds of thousands of voters in the financial and real estate sectors who have already lost their jobs. (not to mention all the voters who have lost a fortune in equity).
This is saying that nothing is illegal until the law is broken
That's a mischaracterization.
and someone tests it in court. That's not how the legal system works.
Actually, that is how the legal system works. A law isn't considered settled until it's tested at the appellate level.
A law isn't considered settled until it's tested at the appellate level.
I don't buy this. I'm sure there are laws on the books that have never had their constitutionality questioned. The fact that someone can be charged with breaking a law, tested or not, suggests that the law is in force. If you murder someone, you are charged with that crime. The only hope of escaping the law is to use the weight of evidence to show that you didn't commit the crime or you were mentally incompetent at the time. Saying something isn't "settled" is a lot different than saying the law is not in force.
What a dreamer you are.
Please explain how I “benefitted” from a 35% loss in my retirement portfolio, or from inflated housing costs, or from artificially keeping interest rates low so that people who could never afford mortgages in the first place could get them. While you’re working on that, why don’t you also tell us how Joe Taxpayer is culpable for for the criminality of Raines and the rest of his ilk?
The facts are indisputable: the mortgage mess was predicated on the part of democrat legislation to force banks to give away mortgages to the poor. The dems that legislated this morass were bought and paid for by Fannie and Freddie, whose directors were lying about earnings to generate huge bonuses. It is utterly sophomoric to suggest that because a few benefitted, the rest of America should foot the bill.Or do you think the government has it’s own money? Likewise, it is equally idiotic to suggest that because the market was up, every American is as culpable as the few who lied to enrich themselves at the expense of everyone else.
You actually seem to think that the collapse of the housing market and the slide of the stock market are not interrelated in the least, and that the losses incurred my so many millions have nothing to do whatsoever with corruption. Do you even read the news? Your complete lack of comprehension is belied by your immediate degeneration into personal attacks. I guess that’s what some people do when they can’t compete in the arena of rational debate... or even reality.
I'm sure there are laws on the books that have never had their constitutionality questioned. Not just whether they are constitutional.
Sure, like the laws that are never used or enforced. There's always questions about applicability and meaning for new laws, not just constitutionality.
If you murder someone, you are charged with that crime.
Geez, why don't you pick a transgression that predates legal systems next time?
If I explained, you would not listen. Therein lies your problem. The “facts” are subject to interpretation. But, please get off the grassy knoll.
The collapse in the housing market was exacerbated by overbuilding, and I was one of those contributing. Sure easy lending helped, but we thought it would never end. But, sometimes supply exceeds demand. And a lot more than a few were intending on benefitting from that run up. Many folks did get their first home and are still there.
I have a comprehension; it just doesn’t include your self-righteous Monday-morning quarterbacking rants. Leave the fixes to the adults, son. Go back to your video games and screaming at the TV screen. And check your retirement plan next year after the doers get up and work with maturity to make some changes. If it is back up, don’t you dare take credit. And, don’t bother to check the market today after the “crash”.
Read the news? The media is full of the pompous self-appointed experts with a community college degree in journalism and you don’t like them when it comes to reporting on McCain/Palin, but now they are your new best friends when it comes to the economy? Wake up! They are contributing to chaos and fright to get an effect: You ranting at the “government corruption”.
Your life is so easy compared to the rest of the world, it would be laughable if your complaining were not so pathetic. You should be ashamed of yourself.
Not a flame, just a correction. This mess rests clearly on the shoulders of George W. Bush, whose Partnership for Prosperity Agreement (with Mexico) was signed on September 6, 2001. From this agreement, the New Alliance Task Force was formed in 2003 to create new ways to tap the illegal alien market. Among the changes was a relaxation of banking rules. One of the changes allowed the illegal aliens to use a Matricula Consular card as ID and an tax return with an ITIN instead of US SSN as proof of income.
What legislation are you describing that required banks to give home loans to the poor and who signed it into law?
What part did Bush's Partnership for Prosperity Agreement (with Mexico) and New Alliance Task Force play in the collapse of the housing market?
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