Posted on 12/11/2009 7:27:02 AM PST by azkathy
Michelle Bachmann describes the Bill that Barney Frank is pushing through as the "Financial Services Takeover Bill".
(Excerpt) Read more at breitbart.tv ...
Has anyone alerted Drudge, Rush, Hannity, and Beck?
I have not, I just found this out this AM and I am posting it on other sites.
I have trouble getting emails through to Beck and Rush. Can you alert them?
What we are witnessing is a coup! Are we going to put up with this?
Michelle is GREAT....but why are she and DeMint the only congresscritters doing anything meaningful about the destruction of our country and constitution?
It's time for the U.S. to demand impeachment hearings. None of this is Constitutional. They're all a bunch of tyrannicals that are out of control. Something has got to break somewhere. This just cannot keep going if we want to be a free country.
I'd say right now We the People are ready to vote these fascists out of power, but if the Republicans do the same thing, or nothing at all, I can't help but think there will be something else.
GREAT Comment from that link:
Cold Warrior December 11th, 2009 - 12:59 am
There is no sense calling/faxing/e-mailing/writing to the congresscritters UNLESS you can truthfully say one of the following:
“I am a conservative Republican Party precinct committeeman and I am recruiting every conservative I can to come into the Party with me as a precinct committeeman for the sole purpose of making sure you and all like you who do not uphold your oath of office will not be returned to office in the next election” or
“I am a conservative Republican and I am taking steps to become a precinct committeeman and I am recruiting every conservative I can to come into the Party with me as a precinct committeeman for the sole purpose of making sure you and all like you who do not uphold your oath of office will not be returned to office in the next election.”
Go here to learn more: http://www.theprecinctproject.wordpress.com
PCs get to vote for the leadership of the Party and help determine, by majority vote, which candidates get the endorsement of the Party in the Republican primary races. Only takes a few hours of time a month. With half the PC slots in the Party nationwide vacant, and with a fifty-fifty split right now between conservatives and moderate RINOs in the PC ranks, the Party is there for the taking by conservatives/libertarians if we’d all just get off our duffs and get to a meeting of the local GOP and volunteer to become a PC. Want to save your country? Then invigorate the “main enemy” of the Debtocrat/Socialist Party with your presence.
(By the way, half of the Party leadership, the moderates, DON’T WANT YOU TO BECOME A PC, BECAUSE THEY AND THEIR RINO CRONIES WILL GET VOTED OUT OF THE LEADERSHIP — THEY DON’T WANT YOU TO KNOW ABOUT THIS BASIC CIVICS.)
Becoming a PC should be every conservative’s first priority. Blogging and carrying a sign at a Tea Party or attending a town hall is great, but unless we have better leadership and candidates in the main adversary party, the Debtocrats will get returned to power. It’s all about the Constitution and all about winning the elections. The best way to restore the Constitution and to have better candidates who respect the Constitution is to join the Republican Party at the grass roots and make it happen. It’s a numbers game. The more conservatives we have in the Party in the precinct committeemen ranks, the more likely it will be that we’ll get better elected leadership within the Party and in the general elections. Michael Steele was elected not by registered Republicans but by the precinct committeemen in all fifty states.
Also, you can go to http://www.redstate.com to learn more, too. Just type in the words precinct and committeeman into the search pane and hit the search button and links to a lot of good info will be presented too you.
Thank you.
Cold Warrior
I am only one. But I am a conservative Republican precinct committeeman and desperately trying to get other Constitution-loving conservatives and libertarians to do the same.
~~~~CALL TO ACTION .. EAGLES UP .........PING!
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US House Expected To Pass Financial Overhaul Bill Friday
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The U.S. House on Friday resumed debate on a sweeping financial overhaul bill and, once it considers a dozen or so amendments, is expected to pass the legislation by midday.
However, the Obama administration and bill sponsors still face a tough road on the creation of a new consumer financial protection agency.
House lawmakers powered through a series of non-controversial amendments late Thursday, approving them on a voice vote.
On Friday morning, the House approved an amendment stripping language from the bill that state regulators feared would give self-regulatory bodies like the Financial Industry Regulatory Authority, or Finra, too much power.
The original bill would have permitted the Securities and Exchange Commission to delegate investment-adviser enforcement to organizations like Finra. Speaking on the House floor, House Financial Services Chairman Barney Frank (D., Mass.) said that language may have gone too far.
“It will be our goal next year, if this bill passes, [to decide] how best to allow the SEC to draw on the increased role of Finra,” he said.
On tap is a vote on whether to exempt small publicly traded firms from Sarbanes-Oxley accounting requirements.
The exemptions were added into the financial overhaul bill in November in a narrow vote by the House Financial Services Committee despite protests from Frank. The Massachusetts lawmaker, Rep. Paul Kanjorski (D., Pa.) and several other lawmakers are seeking to erase the exemptions from the bill.
House lawmakers also will vote on an amendment offered by Rep. Walt Minnick (D., Idaho) that would eliminate the bill’s proposed consumer financial protection agency, replacing it with a council of financial regulators.
If successful, the amendment would mark a major victory for banking and financial-services firms that have opposed the agency, and would eliminate a central plank of the Obama administration’s plan to improve oversight of financial markets.
http://online.wsj.com/article/BT-CO-20091211-707179.html
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Massive Marxist takeover grows ... Bachmann said the US Govt presently already controls 30% of the nation’s businesses. If they succeed at this, it will be up to 46% .. and that’s all of us: credit cards, checking accounts .. all financial services, including mandating all business financial practices.
Maxine Waters got an amendment thru where ACORN or subnamed group of theirs can have a rep on the Committee that rules on these practices.
MUST hear Michelle .. they tried to sneak this under the radar .. just dropped it on them suddenly, and the House is voting on it today:
http://www.breitbart.tv/bachmann-on-the-b-cast-a-conservative-call-to-action/
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NOTE: As she says, they *know* it’s Holiday time .. we’re busy .. we want to be doing more joyful things and we’re sick and tired of all this conflict and another fight .. and THAT’s why they’re doing this now. They WANT us to withdraw, to NOT step up and participate .. it’s so much easier.
But we HAVE to fight them NOW ... and pray to God ... our survival depends on it.
Call your Reps and/or go to their district offices! Tell them you DON’T want Barney’s Bill .. no govt takeover of financial services. Please ... stand up.
Calm down. It's just money. The tax payers will pay it off eventually.
US House approves $1.5 billion Pak assistance for 2010
Kimberly,
So glad you noticed this from Coldwarrior. I just met him yesterday(online)through TEA party website and he convinced me to become a PC.
I agree with what he says and we the people need to takeover the Republican party! We need to get FReepers to spread the word on this.
“What we are witnessing is a coup! Are we going to put up with this?”
This incredible takeover of “Free Enterprise” will NOT stop until we get rid of the Obama Dream Team.
Michelle does explain why the effort to “Burn up the phone lines” does help but I truly think they are going to ram all their socialist plans through.
No-one knows what will be the “tipping” point but America as we know it will cease to exist under this tyrannical dictatorship.
“Calm Down.” Isn’t that a laugh?
I think one of the reasons the economy is so bad is because Conservatives are so busy trying to fight the tyranny that they have no time to work. Do you suppose that is part of the Obama plan/Cloward-Piven strategy?
Thank you Starwise, I knew I could count on you.
Michelle Bachmann is awesome! I predict a bright future for her!
Surely you jest.
http://www.bloomberg.com/apps/news?pid=20601103&sid=a6iL7WiHEgE8
HR4173, From Barney Frank’s Committee Regarding this bill. Voting TODAY on a Financial Services TAKEOVER
For Immediate Release: December 3, 2009
Committee Completes Work on New Rules to Govern America’s Financial System
House will vote on reform package next week
Washington, DC - Yesterday, the House Financial Services Committee completed its work on a comprehensive set of reforms that responds to the recent economic crisis by modernizing America’s financial regulations.
The Wall Street Reform and Consumer Protection Act (H.R. 4173), which will be considered on the House floor next week, incorporates nine major pieces of legislation approved by the Committee to address the myriad causes – from predatory lending to unregulated derivatives – that led to last year’s meltdown.
The Wall Street Reform and Consumer Protection Act includes the following provisions:
Consumer Protections: Creates the Consumer Financial Protection Agency (CFPA), a new, independent federal agency solely devoted to protecting Americans from unfair and abusive financial products and services.
Financial Stability Council: Creates an inter-agency oversight council that will identify and regulate financial firms that are so large, interconnected, or risky that their collapse would put the entire financial system at risk. These systemically risky firms will be subject to heightened oversight, standards, and regulation.
Dissolution Authority and Ending “Too Big to Fail”: Establishes an orderly process for dismantling large, failing financial institutions like AIG or Lehman Brothers in a way that ends bailouts, protects taxpayers, and prevents contagion to the rest of the financial system.
Executive Compensation: Gives shareholders a “say on pay” – an advisory vote on pay practices including executive compensation and golden parachutes. It also enables regulators to ban inappropriate or imprudently risky compensation practices, and it requires financial firms to disclose any compensation structures that include incentive-based elements.
Investor Protections: Strengthens the SEC’s powers so that it can better protect investors and regulate the nation’s securities markets. It responds to the failures to detect the Madoff and Stanford Financial frauds by ordering a study of the entire securities industry that will identify needed reforms and force the SEC and other entities to further improve investor protection.
Regulation of Derivatives: Regulates, for the first time ever, the over-the-counter (OTC) derivatives marketplace. Under the bill, all standardized swap transactions between dealers and “major swap participants” would have to be cleared and traded on an exchange or electronic platform. The bill defines a major swap participant as anyone that maintains a substantial net position in swaps, exclusive of hedging for commercial risk, or whose positions create such significant exposure to others that it requires monitoring.
Mortgage Reform and Anti-Predatory Lending: Would incorporate the tough mortgage reform and anti-predatory lending bill the House passed earlier this year. The legislation outlaws many of the egregious industry practices that marked the subprime lending boom, and it would ensure that mortgage lenders make loans that benefit the consumer. It would establish a simple standard for all home loans: institutions must ensure that borrowers can repay the loans they are sold.
Reform of Credit Rating Agencies: Addresses the role that credit rating agencies played in the economic crisis, and takes strong steps to reduce conflicts of interest, reduce market reliance on credit rating agencies, and impose a liability standard on the agencies.
Hedge Fund, Private Equity and Private Pools of Capital Registration: Fills a regulatory hole that allows hedge funds and their advisors to escape any and all regulation. This bill requires almost all advisers to private pools of capital to register with the SEC, and they will be subject to systemic risk regulation by the Financial Stability regulator.
Office of Insurance: Creates a Federal Insurance Office that will monitor all aspects of the insurance industry, including identifying issues or gaps in the regulation of insurers that could contribute to a systemic crisis and undermine the entire financial system.
GOD PLEASE STOP THIS INSANITY!!
It looks like at least FOUR new Federal Agencies in this one bill.
The SOCIALIST Takeover is in full swing. Our FEDERAL Government is a nightmare and I absolutely believe they are not the answer, they are the PROBLEM!
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