Posted on 10/01/2008 12:50:40 AM PDT by politicket
Excerpt...
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.
(Excerpt) Read more at fedupusa.com ...
That's good enough for me.
BTW: When you're talking about *Global bankers* you're referring to *International bankers*. IOWs, the same banking families that have been around for a couple of hundred years or more.
The same families who have used their wealth to achieve economic, political and cultural control over the entire planet. (at least that's their intention)
This site details some of their tactics and the groups involved.
http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=FinalWarn05-3
......I didn’t say that these mortgages had to have originated in the United States......
It is my understanding that the packages sold to foreign banks were in fact based on mortgages of US real properties or various derivatives based on those mortgages. Loans on property in say Iceland or Lithuania are not part of the deal
Who do you think has been financing our National Debt????
Them foreigners!
“Despite having knowledge of them, TM failed to encourage Bear Stearns to address serious deficiencies in their risk management and pricing models.”
This article causes me to believe the leadership of the TM Division was compromised in its duties.
Wondering if Congressional influence deterred TM from responding appropriately to this matter. Why would TM turn their backsides to an obvious?
“Thirdly, President Bush signed a $300 billion dollar mortgage bailout bill on 7/30/2008. It takes effect today, October 1st. Nobody is talking about it.”
Correct me if I’m wrong, but by my unofficial count we’ve already dumped $2 trillion on this problem so far.
He does not want to disappoint his globalist buddies.
You cant have one world if America is rich and the rest of the world poor. And the rest of the world cant live like we do, so the globalist party is bringing America and its middle class to its knees.
Isn’t it true that ALL of this toxic debt can be laid squarely at the door of Fannie Mae and Freddie Mac — even the overseas stuff?
Not that this means it’s OK to bailout foreign banks, my point is that the mismanagement of these GSE’s has put the ENTIRE WORLD on the brink of a meltdown!
When you call your Congress critters make sure you demand an investigation of the GSE’s — one that goes back to their founding!
sinsofsolarempirefan
Since Jul 29, 2008
I apologise, I didn’t know being a member of FR for 8 years longer than me makes you a mighty Lord of wisdom and knowledge and me an ignorant and wretched peasant. Should I get down on my knees and beg for forgiveness for my impertinence O Mighty One, or will a two-fingered salute in your general direction suffice?
There seems to be plenty of reasons to oppose it. This one is just a bonus.
you can guarantee that of obama gets in that our tax money will be going over to Africa a hell of a lot more and many more Africans will be coming here.
It doesn't.
Posting the accusation of people 'whipping up a bit of xenophobia to get people to oppose the bailout' after being shown the text of the pertinent bill DOES make you look like a fool, no matter how long you've been here.
BTW- Welcome to FR.
So, how is the cause of American-style free enterprise going to be advanced if banks are allowed to collapse, people lose their savings and people lose all confidence in putting their money in banks and start stuffing it in mattresses again? It will be Great Depression II. Financial Professionals of 20-30 years of experience are pushing for this bailout to avoid a repeat of that experiance, but apparently, armchair economists know better....
I’m not very well versed in economics, but have been following Denninger’s videos and comments on fedupusa.com for about a week now. He puts things in language easy for a layperson to understand (although sarcastic at times). Denninger had the right analysis from the get go. He also has solutions.
A lot of foreign banks have bought our bad debt. Is the rush to pay foreign banks off a result of a threat to Bush/Paulson that if they don’t cough up money for foreign concerns, those concerns will be very reluctant to invest in the U.S. in the near future?
Bush/Paulson act like people who have been blackmailed with something very onerous and rather than revealing the onerous reason, they’re trying to sell us on more innocuous reasons why this must be done pronto.
Of maybe I’m making this more of a conspiracy than it is.
It is clear to me that Europe with an economy in shambles is a severe foreign policy concern. Europe could not defend itself from a hostile takeover, either political or military—from without or within. And we are not in a position militarily to lend much help.
Oh yea where does it say that?
Well, if China sells you tainted food, don’t you want your money back? We sold the world tainted securities, backed up by lying ratings that the issuers paid a fee to Moodys and S&P to get assigned to the toxic waste they were peddling - it’s going to take a long time and a lot of money to ever restore trust in the American financial system after that.
This is nonsense. This money will be used to buy bad loans at a fraction of their real value that are crippling the financial industry, and restructuring them until they are paid back.
This is just rabid xenophobia to get people into a frothy mouth rage.
Sometimes, you have to choose the lesser of two evils. If people can’t be sure that the money they leave in the bank is safe, you are undermining confidence in the entire economic system....
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