Free Republic

Great point on GOP. Glenn Beck’s leadership is helping.

Time for us to sign up friends and neighbors.

FANTASTIC IDEA !

My wife forwarded your comment to me after a neighbor and I mapped out similar plans in a 4-hour discussion.

We are organizing a web-enabled initiative to specifically identify and act on “TAKEDOWN TARGETS” that undermine America’s Freedoms, Values and Capitalist Economy.

We can shift half of their customers to Patriot Sources, thereby starving the Target’s funding and strengthening the Patriot Sources.

Early Priorities:
1. Newspapers: Cancel the Subscription
2. Cable Channels: Block the Partisan Channels
3. Theater Chains: Boycott those carrying Partisan flicks
4. Music Retailers: Boycott those carrying Garbage Rapsters

Short Story:
Shift half of their Customer Base to Patriot Competitors.
Leave them to scrap with Partisan Competitors for leftovers.

Thanks for taking Action - hope you have inspired your family and friends to do so, too.

NOW we need to get to our Representatives:

Vote NO to “Rescue Bill”

Please rally your Conservative Representatives to vote “NO” to the “Rescue Bill” passed by the Senate.

BASIS
1. Label the “Rescue Bill” as the “Foreign Investor Rescue” and “Wall Street Bail-out”. Foreign Investors can “launder” their bad assets by selling or swapping them with any bank domiciled in the U.S.

2. Refuse to substitute Taxpayer Money for Wall Street’s Money to gamble on Mortgages we already know are Toxic.

3. Reject the use of 300 pages of earmarks: We know attempts to put “Lipstick on a Pig” when we see them.

BACKGROUND

The underlying assets involved do not even have to be in the United States!

Here is the Bill’s definition of a “troubled asset”:

“(9) TROUBLED ASSETS.—The term ‘‘troubled assets’’ means—

(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability;

and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.”

Notice that conspicuously missing from the definition is the requirement that the asset’s underlying thing (that is, the property that was mortgaged, etc.) lies within the United States.

Also note that Treasury must tell Congress if they add “new types” of debt, but that Congress has no right of review or censure.

_______

Added to Original Posting:

ECONOMIC RESCUE ALTERNATIVE PLAN built a complete solution from Dave’s Common Sense Fix.
Please read it and come out swinging for it:

http://mikepence.house.gov/UploadedFiles/RSC_Economic_Rescue_092908.pdf

Added to Posting:

ECONOMIC RESCUE ALTERNATIVE PLAN built a complete solution from Dave’s Common Sense Fix.
Please read it and come out swinging for it:
 
http://mikepence.house.gov/UploadedFiles/RSC_Economic_Rescue_092908.pdf

Work-out not Bail-out

Eliminates the Credit Crisis: Suspends Capital Gains Tax to immediately free up huge volumes of capital
 
Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for Mortgage-Backed Securities (MBS) that guarantees losses to attract Private MBS Buyers

Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for Mortgage-Backed Securities (MBS) that guarantees losses to attract Private MBS Buyers
· Suspends Mark-to-Market Accounting that effectively froze MBS assets from being sold and multiplied capital requirements for Banks
· Provides Loss Write-offs for MBS Sellers to price them at market and incur the losses needed to pull capital from their MBS assets now
· Requires all future MBS to meet full regulatory requirements and provide complete, transparent documentation for assessment of risk and value
 
Eliminates the Crisis Perpetrators behind Bad Mortgages and MBS Problems:
· Privatizes Fannie and Freddie GSEs to eliminate the sources of the problem and prevent Congressional kick-back schemes
· Refocuses the Fed from short-term economic growth that drove economic boom-and-busts, to long-term price stability that controls inflation and sustains the dollar
· Prosecutes Corruption and Constrain Compensation for Industry-Executive Perpetrators

Link:
http://mikepence.house.gov/UploadedFiles/RSC_Economic_Rescue_092908.pdf

Great Solution:
Work-out not Bail-out

Eliminates the Credit Crisis: Suspends Capital Gains Tax to immediately free up huge volumes of capital
 
Eliminates the Mortgage-Backed Securities (MBS) drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for MBS that guarantees losses to attract Private MBS Buyers

Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for MBS that guarantees losses to attract Private MBS Buyers
· Suspends Mark-to-Market Accounting that effectively froze MBS assets from being sold and multiplied capital requirements for Banks
· Provides Loss Write-offs for MBS Sellers to price them at market and incur the losses needed to pull capital from their MBS assets now
· Requires all future MBS to meet full regulatory requirements and provide complete, transparent documentation for assessment of risk and value
 
Eliminates the Crisis Perpetrators behind Bad Mortgages and MBS Problems:
· Privatizes Fannie and Freddie GSEs to eliminate the sources of the problem and prevent Congressional kick-back schemes
· Refocuses the Fed from short-term economic growth that drove economic boom-and-busts, to long-term price stability that controls inflation and sustains the dollar
· Prosecutes Corruption and Constrain Compensation for Industry-Executive Perpetrators