President Obama Signs Paul Ryan Bill and Immediately Suspends 5th Amendment…

Conservative Treehouse ^ | 6/30/16 | sundance

[Vermont Lt]

But we have to do it for the children.

[Renegade]

You can call him a turd!

[Chaguito]

“It applies in this instance to Puerto Rico via the general obligation bonds (property) purchased by municipal bond holders (investing citizens), which were supposed to be repaid, and which congress has now determined can be frozen.”

Atlas Shrugged redux. It’s eerie.

[Chaguito]

Watch the “impartial” Fed pull the plug on the markets on January 21. Punishment for anti-globalist thoughts.

[minnesota_bound]

How much of a bribe did Paul Ryan get from those that now do not have to pay?

[scrabblehack]

Aren’t Illinois and California on the road to bankruptcy?
Is their only option to default?

[Pearls Before Swine]

Aren’t Illinois and California on the road to bankruptcy? Is their only option to default?

Under the current status of the law (as I understand it) there is no standardized path for the bankruptcy of a state. But, when push comes to shove, something will happen.

Remember, the main reason states like Illinois are in trouble (California also has major self-inflicted immigrant expenses) is over-generous, unsustainable pension benefits to government employees, like teachers and police.

Democrats would love to put those debts on the federal tab--socialize them throughout the country, paying government apparatchiks generously on the backs of the non-governmental public. But, 10 or 20 years down the line when the disaster comes closer, other commitments like Social Security and Medicare will also be very hard to meet out of available tax cash flow.

The logical thing to do is to admit it, and pay what is affordable... maybe 25 or 30% less than the promised amount. But, that won't happen without lots of screaming and name-calling.

[bert]

there is precedent...... Obama stole my retirement GM bonds and gave the money to the more deserving UAW.

[Jane Long]

Hurray, for our communists leader and his friends like Ryan.

---

Lyin Ryan is a comrade.

[exit82]

Of course, “PROMESA” is the Spanish word for “promise”, feminine gender.

Nice promise, there, Ryan, ya eunich!

[exit82]

Somewhere, Mitt Romney and Bain Capital are doing high-fives.

[Whenifhow]

Roll call

297 to 127 with 11 not voting

http://clerk.house.gov/evs/2016/roll288.xml

[Exeter]

Many thanks, Whenifhow. just wanted to know which of my representatives voted for this bailout. Bennie Thompson is no surprise, but I am disappointed with Greg Harper’s “aye”...

[Whenifhow]

See #29
So it’s supervision, but not a bailout.
#31
As it is a US territory that issued the bonds, it is not subject to bankruptcy court liquidation. This was actually listed in the risks prospectus for the bonds. So no, they’re just holding paper that PR can, solely at its own will, pay or not pay as it chooses. Investors had zero power to compel liquidation of any assets.

#38
This is not Unconstitutional it’s an exercise of Congresses power to regulate bankruptcy.

#43
“It applies in this instance to Puerto Rico via the general obligation bonds (property) purchased by municipal bond holders (investing citizens), which were supposed to be repaid, and which congress has now determined can be frozen.”
Atlas Shrugged redux. It’s eerie.

THE REAL OBJECTIONABLE info is that Bain Capital will benefit.

From post 8
Rat Fink Ryan Pushes Passage of Puerto Rico (Bain Capital Bond Seller) “Rescue” Through House…

http://www.freerepublic.com/focus/f-news/3438751/posts

From article:
So two months ago we made contact with entities within the Puerto Rico financial community. Luckily we happened upon an individual who was meeting with representatives of the PR governors office for a late lunch. We politely asked if this person would inquire about the debt repayment (under the rescue guidelines) as they pertain to Bain Capital.
Two days later we received a return phone call affirming the question was asked, and the admission was made, that special provisions have been part of the long standing discussion to ensure Bain Captial was at the top of the list for bondholder reimbursement.

http://www.freerepublic.com/focus/f-news/3438751/posts?page=10#10
THERE IS NO BAILOUT . This bill forces PR to go into bankruptsy and forces them to not only to restructure their debt .But address conditions which caused it
(HENCE HEDGE FUNDS WHO BOUGHT THESE WORTHLESS BONDS ISSUED BY PR FIGURING US WOULD BAIL THEM OUT AT 100% PLUS GET A TAX WRITE OFF. NOW HAVE TO SETTLE THAT WORTHLESS INVESTMENT FOR PENNIES ON THE DOLLAR.

http://www.freerepublic.com/focus/f-news/3438751/posts?page=15#15
The point I was trying to make is that Bain Capital made sure they came first. That was all. Although bond holders should come first, in this case we see where the influence is.

[LucyT]

Obama Signs Paul Ryan Bill and Immediately Suspends 5th Amendment

Missed this earlier, pinging it now.

Thanks, Nachum. (>>>>What Constitution? We don't need no Constitution. /s <<<<)

The fifth amendment to the U.S. constitution guarantees many rights for citizens accused of crimes, not the least of which is the protection against self-incrimination.

Amendment V
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use without just compensation.

[bgill]

Now, now, he was a Constitution professor, don’cha know. He knows what he’s doing.