Paulson’s Goldmen

A man of great wisdom:
http://www.atlah.org/broadcast/manningreport.html

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SAVE AMERICA
OPEN THE DOORS
AMERICA IS A COUNTRY OF IMMIGRANTS
IMMIGRANTS WILL SAVE AMERICA
GIVE CITIZENSHIP FOR EVERYBODY WHO BUY A HOUSE BY CASH

This is politics at it's worst. Nancy Pelosi had no business making the speach that she made towards the end of the debate. And republican's had no business claiming that it was her speach that caused them to pull their support - people should be bigger than that.

As far as I am concerned, everyone is to blame for this - republicans, democrats, independents. And the American public too. This culture of consume, consume, consume is completely out of control. Yes, I believe there were a few unsophisticated buyers that were snookered by unethical lending practices - but only a small percentage. For the rest, it was simply a question of greed. Why buy a modest 2,000 square foot house when you can leverage yourself to the hilt and buy a 5,000 square foot house?

This is a great big *** sandwich and we are all going to have to take a bite. There is no point in making recriminations or pointing fingers. The vast majority of us had a part to play in this mess. It is time we all held ourselves accountable instead of someone else and focus on fixing it rather than trying to figure out how to gain some advantage from it.

I am so disgusted right now that I want to vote them all out of office. It doesn't matter whether they are a republican or a democrat or an independent. Throw the lever for someone new, because the current crowd has completely, and utterly, failed.

In opposing the bailout, it is not a Republican vs. Democrat thing. It is the 99% of the people who are being undermined by this global economy versus the 1% who have benefited so richly. That is why opinion is running 100 to 1 against it.

Opposed to the bailout of Wall Street crooks?

Donate $10 now to Nader/Gonzalez.

Why?

We're in the tenth month of our campaign.

And we're in the final two day stretch of our $150,000 Three Way Race Fundraising Drive.

Thanks to you, we're in striking distance.

We're at $110,000 with two days to go.

We need 4,000 of you, our loyal supporters, to donate $10 each.

Let's crank it up.

And get it done.

Our strategy all year long -- put Nader/Gonzalez in a position to break through.

And together, we did it.

We put Nader/Gonzalez on 45 state ballots -- and the District of Columbia.

Then, all of a sudden, here comes the MOB.

With an October surprise.

The MOB?

That would be McCain/Obama/Bush.

With the Mother Of all Bailouts.

McCain/Obama/Bush are pushing hard for the bailout of Wall Street crooks.

While Nader/Gonzalez stand with the American people in opposition.

Why are we in this mess?

As Richard Fischer, the president of the Federal Reserve in Dallas put it yesterday, we're in this mess because of "a sustained orgy of excess and reckless behavior."

Why then should we bail out those who engaged in the orgy?

We shouldn't.

And it's time to stand up and speak in one loud and clear voice.

No to the bailout.

Vote Ralph Nader.

The man who for his entire career has pushed for tough law and order regulation of Wall Street.

Regulation that would have prohibited the orgy of excess and reckless behavior.

The bailout of Wall Street crooks will be the number one issue throughout October.

And we need your help now to gear up to drive home the message.

Read more on www.votenader.org

I am dismissed at President Bush brashness at inviting only Presidential candidates Senators McCain and Obama. To my knowledge, there are 13 NOMINATED candidates, and yet, only two where invited to speak their minds. Apparently, President believes that only Republicans or Democrats are entitled to be heard on the most important domestic political crises in the last 70 years?

I call you Senator McCain to extend your recognation that we are all in this together, and to give representatives of the entire American electorate a seat at the table and a voice in this bailout. I demand this in the name of the more than a third of registered voters who are neither Republicans nor Democrats who are not represented in this bailout proposal. How can you work for a dipartisan solution when all the partisans are not present?

Senator McCain I know your numbers are falling and you are weak among the middle class on economic policy concerns. My suggestion to you is the following:
1) Invite Mr. Nader, former Congressman Barr and any others who show significant levels of popular support should be included in any gatherings that are convened to resolve this crisis. Because if the future of all Americans is at stake in the current crisis, shouldn't all Americans have representatives at the table? We too will bare the burben of this finincial bailout, therefore our elected Presidential representatives should be present.
2) Take a firm stance on 5 years jail time and a felony conviction for every executive and anyone founded criminally liable.
3) Executive retirement plan compensation made as a donation to the government for the bailout.
4) Forgiveness of $5,000- 8,000.00 of credit card debit for every American making below 50,000.00.
5) Forgiveness of $5,000- 8,000.00 of student loans for every American making below 50,000.00
6) Expunge the records of everyone who filed Chapter 11 due to excessive credit card debit in the last 2-3 years for every American making below 50,000.00.

Regards,

Those who aren???t Republican and Democrat but still have a voice

They will place a black male in jail for a oz of weed but allow this criminals to get away. Tuff on crime RIGHT

Atlanta, GA ??? Bob Barr, the Libertarian Party's presidential candidate, sent a letter on Thursday to President George Bush requesting to be included in discussions with Senators John McCain and Barack Obama regarding the proposed $700 billion bailout of Wall Street.

"I respectfully request to be included in the discussions with congressional leaders, Senators McCain and Obama and representatives of your administration," Barr requests in his letter to Bush. "I am adamantly opposed to the commitment of taxpayer's hard-earned money to protect the companies and individuals who made bad investment decisions."

"I also urge you to require that any company or entity that ever applies for benefits from this misguided bailout be required to preserve every document, communication and record effective today, so that the Justice Department can appropriately investigate the causes of the company???s financial collapse and hold accountable the Directors and Executives," Barr continues.

In a statement released on Wednesday, Barr said a vote for the bailout package, "in whatever form it comes in, is a vote against the American taxpayer, and a vote against the free market."

Barr also condemned McCain's call for more regulation and oversight, saying such regulation is government seeking to micro-manage the U.S. economy. ???Capitalism involves losses as well as profits," Barr explains. "When government tries to insulate businesses and investors from paying for their mistakes, we all lose. In a Barr administration, there would be no more corporate bailouts or takeovers."

vote against the two party system

www.openthedebates.com

Nader Predicted Wall Street Meltdown
By The Nader/Gonzalez Campaign

Eight years ago, consumer advocate Ralph Nader correctly predicted that the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) were on track to follow the savings and loan industry of the 1980s and 90s into a big financial heap of trouble. Nobody listened, and taxpayers are now at risk of losing tens of billions of dollars. Wall Street is being shaken to its foundation. American International Group Inc., the biggest U.S. insurer by assets, is now teetering on the brink of ruin after suffering losses of $18 billion in the past three quarters, largely due to its sub prime mortgage exposure.

"Nader Rips Mae and Mac," declared the Milwaukee Sentinel Journal on June 16, 2000. "Ralph Nader, warning of a potential taxpayer bailout similar to the savings and loan crisis, urged lawmakers to cut government benefits to mortgage-market giants Fannie Mae and Freddie Mac - which he called 'poster children for corporate welfare.'"

This year Nader, who is also running for president as an independent, is getting credit for his prescience.

"Give one presidential candidate credit for identifying the problem and getting the policy right - and doing so before the twin government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac went into the tank in mid-July," wrote Lou Dubose in The Washington Spectator on Aug. 1. Dubose went on to quote Nader's June 15, 2000 Congressional testimony about HR 3703, a bill that would have reigned in some of the most dangerous tendencies of GSE's, had it passed.

In a letter to SEC Chairman Christopher Cox in 2006, Nader also criticized the exorbitant salary of GSE executives Jamie Gorelick, Daniel Mudd, Robert Levin and Timothy Howard, and noted that their financial incentives were in direct conflict with consumer financial security because of the grave moral hazard created by accounting manipulations they sanctioned that benefited their personal wealth, with no penalty for being caught.

"As you continue to investigate the Fannie Mae accounting debacle, we are writing to urge you to seek civil sanctions, including disgorgement, from senior executives who profited directly from the misconduct at Fannie Mae, and that you urge the Department of Justice to give careful consideration to criminal prosecution of these individuals," wrote Nader.

Candidate Nader has called for an immediate halt to the increase in the national debt, an end to corporate subsidies and unconditional taxpayer bailouts of corporations, and a start to the aggressive prosecution of corporate criminals.

http://www.beachwoodreporter.com/politics/nader_predicted_wall_street_me.php

www.votenader.org

The White House and Congress have destroyed the economy to better reward their cronies and the personal needs of their constituents. Lining the pockets of the rich, taxing the middle class to pay for it (because of course the rich have loopholes so they don't pay taxes), and using earmarks to get re-elected is not in the best interest of serving the country. Saving Wall Street by a Wall Street insider is almost an oxymoron! Thank you Washington for decimating the world outside the beltway and Wall Street...that's about the only thing you've done an excellent job in over the last eight years! If this sounds angry, I'm sorry...really I'm just feeling majorly depressed that our "leaders" have gotten us into this incredible mess!

Paulson is wall street He has always represented wall street he is not trying to bailout America with him in charge it is a case of wall street control of the bailout of wall street, Is that what we want. He is not just getting advice from wall street he is wall street.

In 2005, for the first time in history, a serious Fannie and Freddie reform bill, S. 190, was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets. If that bill had become law, then the world today would be different. But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0



In support of S 190, also known as the Federal Housing Enterprise Regulatory Reform Act of 2005, John McCain said: "For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay."

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16

Federal Housing Enterprise Regulatory Reform Act of 2005 would have Amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Most importantly with regard to the CDS situation, S. 190 set forth operating, administrative, and regulatory provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting. Adoption of these regulatory provisions would have undoubtably affected the way CDSs were dealt with in "private" enterprises.
The bill would have also amended the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation., and transfered the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. If this had been in place three years ago, this whole situation might have been averted.

http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary

Warren Buffet spent 5 billion and got himself a tremendous deal, which will pay him at least 10% each year, plus potential much more.

Shouldn't the US government, planing to spend another 700 billion, get a better deal than someone with just 5 billion ?

It's hard for a silly me to understand all what's going on.

Where did all the past profits and bonuses go ? Weren't they related to the current "loss" and crisis of the many firms and banks ?
Before we bail out the firms, these past "profits" and bonuese must be called back. After all, they were not real profits, ad those who received bonuses should not. They took the money and bankrupted the firms.
Now, we are bailing them out ?

Joe Liu - Dublin, OH

This bailout amounts to one thing. It is the largest re-distribution of wealth in American History. The robber barons of past before the great deal were furious that the average person in American could actually own there own homes and maybe a little more like a small boat to go fishing.

Now they have spent the last 50 years figuring out how to take back what we were able to work hard for over our lifetimes. They finally found a way through the last 15 years of Republican rule in Washington and George W Bush. Deregulation, allowing huge corporations buy out competition, Tax breaks for the richest Americans while raising taxes on everyone else (when you give the working class a small tax break but cut funding to states, schools and localities so they need to raise taxes more than the break you received from the fed, that is a tax increase) and finally giving these corporations the ability to write off on taxes the huge ridiculous bones and salaries for these Corrupt and immoral executives. They did a great job of almost eliminating the middle class. This bailout should make the job complete. Do you think the Treasury run by former Goldman Executives care about the working class in this country?

Can't even believe that the title of this article ended with a question mark. Should have ended
with double exclamation points. Of course the guiding forces behind this ill gotten bailout
will be manipulated by the very same players that created the debacle in the first place.
To seek the assistance of independent lawyers, auditors, financiers, would mean giving up
the total power and control that these villains crave and despicably continue to receive.
We're going to get more, not less, of the same manipulative, secretive, fiscally destructive,
blind power monopolization. Because there's such a fear of casting stones at the unaccountable
players who have been, and will continue to be, wolves in sheeps clothing.
Congress should have demanded a more divierse group of higher moralisitic and less Wall Streetish
decision makers. But, nope, they're letting the same players sit at the roulette table.
Nice going. Thanks for the leadership. Again.

As the "negotiations" were going on, I suddenly realized. Why are there negotiations? Aren't all of our elected officials and the appointed members of this administration supposed to be representing the American people? Who are they negotiating with? We should get the same type deal JP Morgan got when they took over Washington Mutual, or Warren Buffet got when he invested $5 billion in Goldman Sachs.

Who exactly is negotiating against that sort of deal? (Oh yeah, all of the administration appointees all worked on and made mega millions on Wall Street. Maybe they are really looking out for their buddies.)

Regarding Paulson's Goldman Sacs advisers, sure the unelected TS is designing the recovery plan, but fear not, it will be the elected congress and the president that will have to agree with the proposal in the end. It will be on their necks, not the TS or his advisers.

"Paulson's team is heavy with Wall Street expertise but short on Main Street perspective. ...the Treasury team is "very incestuous." "

PLUS, this 'Bailout' gives unprecedented power to the Secretary of the Treasury - an appointed, not elected position - who, as stated above, is advised by the very people who will profit from his decisions.

This is not only horribly WRONG, it's extremely dangerous and the American people have repeatedly and loudly protested to their Representatives that we do NOT approve of this plan!

Who will represent the citizens of the United States instead of the priveleged few??!