Bailout will be for foreigners

Brad Sherman (D-CA) was on Kudlow and Company last evening explaining to the world that the $700 Billion isn't meant for the United States, it is meant for FOREIGN AID. The American public is going to get fleeced out of hundreds of billions of dollars in order to backstop the rest of the world's bad investments!

Foreign governments are desperate for this money, and have even been quoted in their media here:

Question: Why would foreign governments care so much about a bill to bail our financial arena out, unless they directly profited from it?

Time to get the word out there...everybody needs to know what this bill could do to our country!

This thought occurred to me yesterday, and I was going to write a vanity on it, but I got caught up in a Shroud of Turin thread.

The reasoning is this: the crisis broke about two weeks ago with the leaders of Congress emerging from a closed-door meeting visibly shaken and not even *attempting* to blame Bush. They were rattled.

The story went out that our economy could *FREEZE* in its tracks within days or even hours if nothing was done.

Nothing has been done for two weeks while the Democrats masturbated over a pork-laded pig trough for their friends at large Wall Street firms and for ACORN (the "elect Obama with vote fraud" people).

The US economy hasn't tanked. But a number of large overseas banks have either failed, had to be bailed out by their governments, or had to sell off large parts of their operations.

I conclude that a lot of the CDS (credit default swaps) and the like, which are undercapitalized (since the guaranteeing entities are leveraged at 30 or 40 to 1 or more), are for the benefit of foreign interests.

So the rest of the world will get pneumonia when we sneeze.

And as further evidence, why (according to Drudge) did a day or so ago, see the dollar have its single largest one-day rise against the Euro EVER?

I bet Soros is in a world of hurt. Tee hee. No wonder the Dems are panicked. They have to bail out their socialist friends worldwide, favors are being called in: but the American RAGE at this is like nothing ever seen before. Norm Coleman of MN recently said that the calls to his office were running 500-1 (yes, five HUNDRED) against the bill.

And all 12 Democrats on Barney Frank's committee voted against this bill, which alone was the margin of defeat.

So the Dems wanted to pass a bill for their socialist globalist friends, give ACORN enough cash to buy all the votes it needs in the swing states (for Obama), and hang the political fallout around the necks of the GOP.

Thank GOD we have real Pubbies in the House, unlike the spineless weasel RINO globalist Jorge Bush.

PS...tin foil hat on this sentence, but maybe they figured the $700 billion would depress the world's confidence in the dollar enough, that they could switch to the Amero?

Cheers!

And here is the actual wording in the bill.

SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS.

The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 101.

According to this statement, banks ourside the US can transfer bad debt to a US entity and the next day the Treasury secretary can purchase this debt with the bail-out funds.

When the leaders of Congress met with Paulson in the dark of night about two weeks ago and emerged ashen faced to predict the End of America if the taxpayers didn’t fork over $700 billion, I suspect they were told in the secret meeting that the Chinese, Germans et al were calling in their loans to us.

And when Wall St. bankers didn’t have the cash to bail out the U.S. Treasury, they had to come to the only cash cow they have, the U.S. taxpayer. We are always left holding the bag...and yet, we elect the same incompetents every election, so we deserve their disdain.

Here is another poll that the $inators might want to consider before they get tarred and feathered:

Ongoing AT&T/Yahoo poll on the bailout:

http://js.polls.yahoo.com/quiz/quiziframe.php?poll_id=39543

Do you want the $700 billion bailout to be passed? Results
Q. Stunned by a House defeat on Monday, supportive lawmakers along with President Bush are again warning that if the proposed $700 billion bailout plan to buy bad mortgages and other “rotten” bank debts is not passed quickly, America — and the world — is vulnerable to a serious recession. Critics and protesters say the current plan does not include sufficient oversight, and taxpayers should not be put on the hook for the staggering price tag.

What do you think? Should the $700 billion bailout be approved?

Yes. It may not be a perfect plan, but we must take action. 23%

No. I think we need a plan, but this bill still needs work so taxpayers can be protected. 39%

No. I don’t think we need any plan. The markets can right themselves without our intervention. 35%
Not sure/No opinion 3%

33347 votes

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