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Nothing in this Act shall limit the authority of the Secretary or the Federal Reserve
US Senate Committee on Banking, Housiing and Urban Affairs ^
| Oct 02, 2008
| Dodd and Shelby
Posted on 10/02/2008 12:46:37 PM PDT by blueyon
Section 135. Preservation of Authority. Clarifies that nothing in this Act shall limit the authority of the Secretary or the Federal Reserve under any other provision of law. Section 136. Temporary Increase in Deposit and Share Insurance Coverage. Raises the FDIC and the National Credit Union Share Insurance Fund deposit insurance limits from $100,000 per account to $250,000 until December 31, 2009. Temporarily raises the borrowing limits at the Treasury for the FDIC and the National Credit Union Share Insurance Fund.
(Excerpt) Read more at banking.senate.gov ...
TOPICS: Government
KEYWORDS: bailout
So if I am reading this correctly, it states that all previous laws in regards to the Secretary or the Federal Reserve are DONE AWAY WITH. Also, I have not heard or seen on any news source that the change in FDIC insurance is ONLY UNTIL DEC 2009.
Please go to the web site and on the left hand side SHARE YOUR OPINIONS with our wonderful Senate who...well I will not type what I feel.
1
posted on
10/02/2008 12:46:37 PM PDT
by
blueyon
To: blueyon
2
posted on
10/02/2008 12:49:46 PM PDT
by
hiredhand
(Understand the CRA and why we're facing economic collapse - see my about page.)
To: blueyon
It is with great reluctance that I have agreed to this calling. I love democracy. I love the Republic. The powers you give me I will lay down when this crisis has been abated!
To: ari-freedom
Secretary of the Treasury Henry Paul-patine.
4
posted on
10/02/2008 1:04:40 PM PDT
by
FarRightFanatic
(If we don't stand up NOW for who we are as a nation, we will pass a New Europe on to our children.)
To: blueyon
Great! So now the Council on Foreign Relations has complete control of our money.
5
posted on
10/02/2008 1:06:24 PM PDT
by
wolfcreek
(I see miles and miles of Texas....let's keep it that way.)
To: blueyon
I'm not a lawyer, but it looks like section 135 is just saying that the Sec. of Treasury or the Federal Reserve are not subjected to new limitations of powers given by other laws. Basically it says "the old rules still apply".
6
posted on
10/02/2008 1:06:59 PM PDT
by
KarlInOhio
(The $700B bail out is giving parachutes to bankers while we must keep our seat belts on and shut up.)
To: KarlInOhio
Right, this is nothing, the real ‘Change’ is coming when obama gets in office, then you can start sweatin’
7
posted on
10/02/2008 1:07:43 PM PDT
by
Scythian
To: blueyon
You're reading it wrong.
All it says is that this particular act doesn't place new restrictions on previous laws.
To: Scythian
Real change is all you’ll have left in your pockets after Obama gets through taxing you.
To: blueyon
It’s because they’re the one’s controlling this process- kill the bankers power, and you kill this bill (and their stranglehold over Congress-and weaking of their thralldom over the US people)!
10
posted on
10/02/2008 2:38:53 PM PDT
by
JSDude1
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