When: Saturday, Sept. 27 - 9am til 6pm Where: Washington, DC at or near the Capitol steps Who: Everyone who can get there, PLEASE HELP!
More information at http://www.tickerforum.org/cgi-ticke...255&page=2#new
Suggestions for signs and handouts are at tickerforum.org as well.
Let's stand up against this monstrosity of a bill.
PING!
"You cannot:
- bring about prosperity by discouraging thrift;
- help the wage earner by pulling down the wage payer;
- further the brotherhood of man by encouraging class hatred;
- help the poor by destroying the rich;
- keep out of trouble by spending more than you earn;
- establish security on borrowed money;
- build character and courage by taking away a person's initiative & independence;
- help men permanently by doing for them what they could and should do for themselves."
These words, often erroneously attributed to Abraham Lincoln, were from Rev. Wm. J. H. Boetcker in "Inside Maxims," in the Year 1916 (see Harper's Magazine, May, 1950, "Lincoln Never said That").
I don’t know that I can get there, but am marking this thread just in case. Thank you for the post, and in advance for attending. And thanks to FedUpUSA!
Paulson has come up with a free market plan that has the best chance of not costing a 10 year recession like happened in Japan in the 90’s and even possibly making a profit for the tax payers like the RTC - the guy is smart and doing his best.
If this is not done - forget your 401k, your credit card and ever getting a car loan - this is a real problem caused by those inside the beltway fiddling while the USA burned - Paulson is doing his best to save your bacon!
From W's 9.24 address:
Under our proposal, the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system.
In the short term, this will free up banks to resume the flow of credit to American families and businesses, and this will help our economy grow.
Second, as markets have lost confidence in mortgage-backed securities, their prices have dropped sharply, yet the value of many of these assets will likely be higher than their current price, because the vast majority of Americans will ultimately pay off their mortgages.
The government is the one institution with the patience and resources to buy these assets at their current low prices and hold them until markets return to normal.
And when that happens, money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back".
Keep in mind the Economic Stimulus Act of 2008 carried a price tag $276,000,000,000 and your not paying back for the US Treasury check you cashed :)
For an interesting historical perspective of "letting the markets sort it out" I refer you to the Panic of 1893 which was worse than the "great" depression.
Very good idea. The larger it is, the better.