Why The Bailout Will Fail - AMI

[Jim O'Bryan]

Below is our press release after the 4th Annual Monetary Reform Conference (a report will soon go out; participants are emailing their congratulations)

Meanwhile, a gang of ruthless thieves is attempting to steal an additional $700 billion from our nation, under threat of an economic meltdown.

There are two things you can and should do RIGHT NOW to stop this outrage:
1) Forward this email immediately to your entire email list by Thursday at the latest, and request that they also forward it to their lists, etc, etc, etc!

2) Forward this email to both of your U.S. Senators, and to your Congressman. (The email address of your Congressman is at Press Release from the American Monetary Institute Sept. 29, 2008

The following press release is issued by the American Monetary Institute following its 4th annual Monetary Reform Conference at Roosevelt University, Sept. 25-28th.

"The private financial sector has failed. The public sector is expected to rescue them and it will. Therefore the public sector should control the money system to benefit the country".

Why No Immediate Wall Street Bailout Will Work

In order for the bail out to work, it needs to restore confidence among the public, not just Wall Street gamblers. Confidence won't be restored by rushing Congress into bailing out the very same people who wrecked our money and banking system. That will actually harm things further. The public understands this and sees the $700 billion grab as adding insult to injury.

The only way to restore confidence is if the Congress is seen to be carefully deliberating how to solve the crisis, in the American interest. The people will then understand that Congress is doing its job and our country can then start rebuilding it’s money system. The Predators accurately judged the Democratic and Republican Congress to be jellyfish. But they misjudged the American people, who have given our congress some backbone. We are going to have our opportunity to replace our unjust money system with a good one in the coming months and years, as this crisis develops.

MORE SPECIFICS FOLLOW and more is at http://www.monetary.org:

Monetary Reform of the Federal Reserve System.

At the heart of the problem is that our money system has been privatized. Naturally it’s been run for the benefit of the “privatesâ€

[Stephen Eisel]

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Had the dems only listened to th repubs at this hearing... rather the dems accused the repubs of being racist and hating the poor.....all for political gain.... and where did the dems hate get us from 2004 to now? it really makes you take a second look at what the dems are doing to Sarah Palin....

[Jim O'Bryan]

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Had the dems only listened to th repubs at this hearing...

Rs wanted and got

$192 million tax cut for Rum Producers in Puerto Rico

$198 million tax cut for Race Tracks

$6 million tax breaks for kids wooden arrows.

Tax break for film producers.
guess Hollywood has a hand in the pocket as those on the right as well.


.

[Stephen Eisel]

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Had the dems only listened to th repubs at this hearing...

Rs wanted and got

$192 million tax cut for Rum Producers in Puerto Rico

$198 million tax cut for Race Tracks

$6 million tax breaks for kids wooden arrows.

Tax break for film producers.
guess Hollywood has a hand in the pocket as those on the right as well.


.

The repubs gave tax cuts of $396 million and the dems gave us the biggest financial meltdown in history... Good point JOB


PS God forbid that people and companies get to keep more of the money that they earn...

[Jim O'Bryan]

The repubs gave tax cuts of $396 million and the dems gave us the biggest financial meltdown in history... Good point JOB


PS God forbid that people and companies get to keep more of the money that they earn...

Stephen

Huge problem, The Rs then, gave the market it single biggest loss, an estimated $1.3 trillion to give friends $396 million in tax cuts!

Cut taxes, cut taxes, cut taxes, no matter who it hurts, no matter who it puts out of businesss. Who cares?

As long as the top 5% can make more money.

Stephen, we are neighbors, I am taking a wild guess you are not in that 5%.

So why are you so passionate about this?


.

[Danielle Masters]

Stephen, why is it when the Dems put earmarks in a bill they are doing something wrong, but when the Rs do it it's okay?

I actually think the job of our Representatives is to go to Washington and get things for their constituents that are needed because that is how our system works. But I also think that those earmarks should be closely scrutinized. A good Representative should be able to offer evidence that the money is necessary. I do think earmarks are often used excessively but they are used excessively by BOTH parties, this isn't something that either party is innocent of.

[sharon kinsella]

For heaven's sake Stephen. Deregulation was a Republican thing. That brought us speculation, ARM's and wanton use or credit.

What don't you see there - and don't do links. We can all google most of us have.

We've also been reading and working on this.

Oh and then there are the tax cuts for the rich.

WOW!

[Jim O'Bryan]

I think the lesson learned is that John McCain rode in late(5 days) to save America, errrrrrrrr earmarks for friends.

Country was not as important as the Rum business in Puerto Rico, or the study of wool.

McCain's political posturing cost investors $1.3 trillion dollars.


.

[Stephen Eisel]

For heaven's sake Stephen. Deregulation was a Republican thing. That brought us speculation, ARM's and wanton use or credit.

Andrew Cuomo (Housing and Urban Development secretary appointed by Clinton in the 90's) made it possible for individuals to get a mortgage with out a credit check or proof of income.. No wonder Fannie and Freddie have donated so much money to the political campaigns of dems.. It was Andrew's and the dems reckless policy that caused this meltdown..

[Stephen Eisel]

Cut taxes, cut taxes, cut taxes, no matter who it hurts, no matter who it puts out of businesss. Who cares?

As long as the top 5% can make more money.

Stephen, we are neighbors, I am taking a wild guess you are not in that 5%.

So why are you so passionate about this?

really???

http://www.nytimes.com/imagepages/2006/ ... chart.html

[sharon kinsella]

Deregulation Stephen - Cuomo intervened in redlining.

[Will Brown]

Who has been put out of business by a tax cut?

[ryan costa]

Lowering tariffs put many American businesses out of business.

Lowering capital gains and corporate income taxes encouraged speculation further fueled by leveraged buyouts. It also fueled taking money out of th company rather than keeping it invested in the company. the resulting corporate raiding and mergers and acquisitions put many businesses and retail chains out of business.


The present mortgage-backed security crisis is mostly the fault of members of the Republicans.

Republican led deregulation enabled the current mortgage backed security bailout.

http://www.clevescene.com/stories/15/74 ... ame-bubble


McCain's own campaign advisers are the folks who lobbied to allow the fancy mortgage backed securities rendered from spring-loaded mortgages.

http://www.nytimes.com/2008/09/28/opini ... d=facebook

This is is a bigger and more impression of how grandly Republican led deregulation caused the savings and loan meltdown 20 years ago:

http://en.wikipedia.org/wiki/Liar%27s_P ... et_culture

Republican lead deregulation also enabled the recent speculative driven appreciation of Crude Oil. I don't know whether this is a good or a bad thing, but it ultimately is driven by speculators having too much money, and nothing better to invest it in than chasing up oil prices. If this wasn't the post-industrial era, perhaps they could have invested it in American industries.

http://www.clevescene.com/stories/15/74/crude

[Stephen Eisel]

http://pajamasmedia.com/richardminiter/ ... et-crisis/

[quote]“Deregulationâ€

[Stephen Eisel]

HEADLINES BY TCS


Top 10 Tax Sweeteners in the Bailout Bill
Categories: Federal Budget, Headlines By TCS
Tags: bailout


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