Barack Obama and the Strategy of Manufactured Crisis
Whether by Fabianist incrementalism, or by catastrophe and revolution, the Socialists win by their strategy -- unless we expose them.
Posted on 09/28/2008 3:35:48 PM PDT by kristinn
The cable news networks are standing by for a press conference by House Republicans on the bailout bill. It should start some time after 6:30 p.m. EDT.
You want real sentiment. This is America. Real Americans don't panic. Grow up.
Ahhhh, Fox came in late!
How is taking $700 billion from the national treasury and turning it over for the use of (benefit of) (formerly) private sector corporations NOT socialism? I don’t know. You tell me.
Furthermore, seeing as how Pelosi, Reid, Obama, et al, are effectively taking credit for saving America through this bill and placing the blame for the Wall Street failures squarely on Bush/McCain, why do you think McCain would get elected? If this bill passes, The One, The Obamaessiah is in like Flynn!
3 (c) JOINT RESOLUTION OF DISAPPROVAL.— 4 (1) IN GENERAL.—Notwithstanding any other 5 provision of this section, the Secretary may not exer6 cise any authority to make purchases under this Act 7 with regard to any amount in excess of 8 $350,000,000,000 previously obligated, as described 9 in this section if, within 15 calendar days after the 10 date on which Congress receives a report of the plan 11 of the Secretary described in subsection (a)(3), there 12 is enacted into law a joint resolution disapproving 13 the plan of the Secretary with respect to such addi14 tional amount.
Translation: Unless Congress schedules a vote and says "no" within 15 days of the costs going over 350,000,000, it can go to 700 Billion automatically. This way every congressman can claim "I never voted "for" it to go to 700 Billion. Congress can just not vote at all and it can go to 700 Billion.
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PROBLEM #2-US TAXPAYERS ARE BAILING OUT FOREIGN BANKS
3 SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES 4 AND CENTRAL BANKS. 5 The Secretary shall coordinate, as appropriate, with 6 foreign financial authorities and central banks to work to7 ward the establishment of similar programs by such au8 thorities and central banks. To the extent that such for9 eign financial authorities or banks hold troubled assets as 10 a result of extending financing to financial institutions 11 that have failed or defaulted on such financing, such trou12 bled assets qualify for purchase under section 101.
Translation:If foreign banks bought loans that people are defaulting on, US taxpayers will buy the bad loans from the foreign banks.
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PROBLEM #3-DEADBEATS UNJUSTLY ENRICHED WITH MORE EQUITY COMPARED TO PEOPLE WHO DILIGENTLY PAID THEIR MORTGAGES AND LOCKED IN RATES
9 SEC. 124. HOPE FOR HOMEOWNERS AMENDMENTS. 10 Section 257 of the National Housing Act (12 U.S.C. 11 1715z-23) is amended— 12 (1) in subsection (e)— 13 (A) in paragraph (1)(B), by inserting be14 fore ‘‘a ratio’’ the following: ‘‘, or thereafter is 15 likely to have, due to the terms of the mortgage 16 being reset,’’; 17 (B) in paragraph (2)(B), by inserting be18 fore the period at the end ‘‘(or such higher per19 centage as the Board determines, in the discre20 tion of the Board)’’; 21 (C) in paragraph (4)(A)— 22 (i) in the first sentence, by inserting 23 after ‘‘insured loan’’ the following: ‘‘and 24 any payments made under this para25 graph,’’; and 70 O:\AYO\AYO08C04.xml 1 (ii) by adding at the end the fol2 lowing: ‘‘Such actions may include making 3 payments, which shall be accepted as pay4 ment in full of all indebtedness under the 5 eligible mortgage, to any holder of an ex6 isting subordinate mortgage, in lieu of any 7 future appreciation payments authorized 8 under subparagraph (B).’’
Translation: If you paid your bills on time, were smart and locked in a fixed rate, even paying a fee (called a "point") to get a better rate-this bill does nothing for you. If you did not make all your payments, did a no-cost loan with a variable rate-this bill will lower your rates and the amount you owe on your mortgage.
(note-the #'s appearing in the middle of words denote the sections of the bill this information was cut and pasted from. This IS from the latest version of the bill.)
But then Kerry sat right there on tv and said that the things O stands for are.............CONSERVATIVE!! I laughed myself silly!
I have to ask myself....
Is something???...being held hostage to this sudden need to bail-out?
WHY is the President so pressured?
Well, McCain has the biggest bully pulpit to explain that the Democrats have the majority and can pass whatever they want on their own if it’s so great. He’s got the pulpit. All he needs is the stones.
Keep in mind that Jim Johnson, Obama advisor, is on the board of Goldman Sacs and could have access to all docs.
Is it likely that if banks start failing other banks will not buy them up?
I'm with ya! I'm stupid too! Let it crash!!! I smell buying opportunity!
I watched a video clip on Fox not long ago. It was of Obama, wherever he was appearing today. When he said we'd have a Bill to vote on soon, there wasn't one bit of applause in the audience.
Barack Obama and the Strategy of Manufactured Crisis
Whether by Fabianist incrementalism, or by catastrophe and revolution, the Socialists win by their strategy -- unless we expose them.
This is it folks, this is where the worm turns.
Are we going to be a CONSERVATIVE or RINO party?
RINO’s are in favor, Conservatives are opposed. They’re trying to ram it through right now.
My guess: It will be stopped and be replaced with something marginally better in the end, but in the end, not something very good at all, something very BAD.
Well, if Kerry said it, it must be true.
He was in Vietnam, you know.
Isn’t that exactly what has been going on these past few days?
Several of us are thinking the same thing....????
Hmmm...
The WH and the Dems trying to push through a wildly unpopular bill and John McCain standing with his foot in the door.
Sounds like a perfect set-up to me.
The politicians have another bit of calculus to deal with, and that is how to avoid negative accountability while claiming credit for any positive situation. Not just "How long will it last," but "Who's to blame?"
Senator Snowe is busy blaming Wall Street, and finding Congress to be completely blameless. The mindset, and it is pervasive, is that Congress can only do good, and never does bad.
“There will be no stopping them now” if, and only if, Obama can defeat McCain in the election. I’m standing with McCain/Palin. This is going to be a close election (assuming the economy does not tank, there is no run on the banks, and unemployment does not skyrocket).
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