Posted on 09/24/2008 7:00:35 AM PDT by SE Mom
Federal Reserve Chairman Bernanke testifies on economic outlook at 10 AM
Bernanke and Treasury Secretary Henry Paulson testify on bailout at 2:30 PM
(Excerpt) Read more at cnbc.com ...
Colleges are also lining up at the pig trough to get the government to pay for all the college loans in default. The dems want to pick up that tab in this ‘bill’ as well.....scaring people that college loans will not go through now and millions of people will not be able to attend college this fall. Bull hocky!
However...if true,what better way to get tuition rates under control than to have no students show up for academic indoctrination this fall? LOL Tuition rates would drop like stones!
He's just starting to visualize the galactic-scale corruption possible if a (still possible, folks) Obama administration gets their hooks into this program..
Bernanke up.
Blah...financial conditions...blah..downturn in housing market...blah..
Under what conditions would one these companies supposedly on the brink of disaster NOT sign up? If they can choose not to sign up because they don't want to lose their bonus can they really be on the brink?
I know. You’re right. This is a sickening thing to watch.
On 9/11 we were attacked by enemies OUTSIDE OUR OWN COUNTRY.
Now? The enemy is truly our own citizens.
mortgage backed securities held by Chinese foreign banks
securities backed by student loans
securities backed by credit card debt.
It may have been just an oversight, but no one has yet asked whether the Treasury would be buying securities backed by torn-up Lotto tickets.
I refer everyone to this thread from last night- it’s must reading:
http://www.freerepublic.com/focus/f-news/2088869/posts
Exactamundo FRiend.
Exactamundo FRiend.
According to reports, it was the dems that pushed for those things to be included. They were not included in the original draft from what I understand.
I can’t find the exact citation now, but someone asked Bernanke “would you exclude notes backed by student loans and credit card balances” and he did not say No.
You make a very good point. 9/11 was an attack on the Wall Street community. They lost thousands of their peers who worked for these brokerage firms. No one ever thought we would recover from that devastation and that the stock market would come recover so quickly. In spite of it all, their greed continues to rule the day.
Someone ought to run the numbers on the total cost to our country due to financial and political corruption 2000-2006 and compare it to the total cost due to all terrorist activities during the same period.
Schumer, D-N.Y., said earlier Wednesday he believes Congress must act quickly to rebuild the crumbling financial system but that lawmakers must have a strong supervisory role.
If there are provisions for a return of money in connection with the absorption of bad debt at various financial institutions, he said on NBC's "Today" show, "it should go to taxpayers before bondholders, shareholders and executives."
Sen. Jim DeMint, a South Carolina Republican, differed with Schumer, saying Congress should resist the Bush administration's pleas for the legislation. He said, "The government broke it. I don't trust them to fix it."
~Snip~
LOL! Go get 'em Sen. DeMint.
Republicans were stragely mum just now when they came out of the meetings! It is time to burn up the phone lines of the House and Senate Minority leaders!!
Please call them folks and tell them not to buckle!
HOUSE
http://republicanleader.house.gov/
http://republicanwhip.house.gov/
http://www.gop.gov/web/guest/home
Senate
CALL THEM FOLKS. One of the leaders said she had gotten 300 emails asking for them to ‘do the right thing ‘..????
300 is a paltry amount when you consider the gravity of this scam. Please take a few minutes to write them or call them today if you have not done it yet.
Oh..I know they intimated that those things would not be ruled out...why do you think the dems are now signing on to the thing and acting like they are not porking it up!!??
It’s a typical democrat ruse!
If they were mum- there’s a reason.
Off the top of my head my speculation is:
-They learned things they did not know earlier- and are now overwhelmed by that new information.
-They’re keeping quiet in order to blast Bernanke and Paulson this afternoon.
From FOX business:
http://www.foxbusiness.com/story/markets/economy/paulsons-track-record-strong-facts/
Existing Home Sales Drop 2.2%; Median Home Prices Down 9.5% in August
Help! I clicked on your link and the audio came on without me doing anything, but I can’t figure out how to get the video. When I clicked on the video link it didn’t do anything. Also I can’t figure out how to turn off the audio. Even when I leave the link and go back to Freerepublic the audio is still playing. Any suggestions?
What do they call unnecessary junk? I read/heard they were adding student loans and auto loans in this bailout, not to mention a few other things.
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