Gene's Blog
About the Author
I'm not specifically a part of any party, though I do have a lot to say.
Never before have I been so disturbed by the Federal Government, and the people that are suppose to represent us. A free economy is an economy free from foreign obligations. NOT on conduct of business. So far, no person has recognized that the United States has been invaded. Not by an army of men to rule over the country, that takes too much money and too many resources, and the purpose is to benefit from the objects of economical wealth. It's not industry, but the people. Industry cannot exist unless there are people to commit their labor to it. The Constitution allowed direct taxes on the states as long as such a tax were apportioned by the true measure of a states wealth, the people.
The $700 Billion Bailout went to the largest banks in the world. And they used it to buy American Banks that according to people employed at those companies, weren't insolvent, but forced out of business while a larger banks acquires them. This is a classic advantage taken by corporations to help hide their own insolvency.
Our Bailout saved International Banks that are invested in countries like China, Korea, and Saudi Arabia. As the Auto industry is most concerned, China and Korea own Auto Manufacturing Corporations that exist in the U.S. > All profits return to the country that own the company. What happens to Americans when all their businesses of manufacturing are owned by foreign governments? Less money, less concern for the general welfare, and involuntarily servitude without rebellion. As long as the people don't know they're foreign owned, who'll complain?
Americans, each having a right to bear arms, could have a detrimental affect on any physical invasion of our borders. The wealth of a nation like ours is property and laborers. Throughout history, there were often wars that were described differently than those known to use force. This was most beneficial because loss of life was a loss of labor, and killing off all your slaves is like throwing away money. Warconomy is real, it's here, and if you're bank account isn't in the billions, you're likely to have elected your masters.
Foreign contaminates aren't foreign as in another country, but foreign or not part of the object or establishment. The same is true in the Constitution. Foreign means anything outside the government being established. You are doomed. There is nothing you can do, so just think about what might happen to you, and how it is your own ignorance for what is to come.
The $700 Billion Bailout went to the largest banks in the world. And they used it to buy American Banks that according to people employed at those companies, weren't insolvent, but forced out of business while a larger banks acquires them. This is a classic advantage taken by corporations to help hide their own insolvency.
Our Bailout saved International Banks that are invested in countries like China, Korea, and Saudi Arabia. As the Auto industry is most concerned, China and Korea own Auto Manufacturing Corporations that exist in the U.S. > All profits return to the country that own the company. What happens to Americans when all their businesses of manufacturing are owned by foreign governments? Less money, less concern for the general welfare, and involuntarily servitude without rebellion. As long as the people don't know they're foreign owned, who'll complain?
Americans, each having a right to bear arms, could have a detrimental affect on any physical invasion of our borders. The wealth of a nation like ours is property and laborers. Throughout history, there were often wars that were described differently than those known to use force. This was most beneficial because loss of life was a loss of labor, and killing off all your slaves is like throwing away money. Warconomy is real, it's here, and if you're bank account isn't in the billions, you're likely to have elected your masters.
Foreign contaminates aren't foreign as in another country, but foreign or not part of the object or establishment. The same is true in the Constitution. Foreign means anything outside the government being established. You are doomed. There is nothing you can do, so just think about what might happen to you, and how it is your own ignorance for what is to come.
I hope this makes sense, and adds to the understanding of the “Machine”.. I’ve been collecting information for a personal matter, and as always, it leads back to Government. Whenever someone says “Government Regulation or Control harm a free economy.” I cringe because a free economy only exists in slavery. And I pose a question for your consideration, Is our government owned by the interests of financiers? Or are they now one and the same? Is there a difference between passing laws respecting the interests of a religion, or passing laws respecting the interests of the financial industry? Or any laws respecting anything other than the people?
Before our Constitution was put into effect in 1789, the taxation power of the United States had been restricted to a Direct tax upon the state, in proportion to the amount of land & improvements that were assessed. This method of taxation was difficult to collect from, due to the lack of urgency to pay by the states themselves. The new Constitution provides for indirect taxation (on consumption) and the same Direct Taxation upon states, but apportioned according to the states only true asset, the people. By the amount of money collected in 2004 after refunds were distributed the average per person contribution is rather low.
$1.7 Trillion ÷ 300 Million = $5666.67/Person in America in 2004
$1.7 Trillion ÷ 220 Million = $7727.27/Person 18+ in America
At a 25% taxation rate (1/4th of annual wages) the average adult population making $24,000 /year (or $11.5/hr) would cover $1.3 Trillion in taxes to the Federal Government before any refunds. $31,000/year (or approx. $14.90/hr) to reach the full $1.7 Trillion in taxes by the adult population. Read More »
Before our Constitution was put into effect in 1789, the taxation power of the United States had been restricted to a Direct tax upon the state, in proportion to the amount of land & improvements that were assessed. This method of taxation was difficult to collect from, due to the lack of urgency to pay by the states themselves. The new Constitution provides for indirect taxation (on consumption) and the same Direct Taxation upon states, but apportioned according to the states only true asset, the people. By the amount of money collected in 2004 after refunds were distributed the average per person contribution is rather low.
$1.7 Trillion ÷ 300 Million = $5666.67/Person in America in 2004
$1.7 Trillion ÷ 220 Million = $7727.27/Person 18+ in America
At a 25% taxation rate (1/4th of annual wages) the average adult population making $24,000 /year (or $11.5/hr) would cover $1.3 Trillion in taxes to the Federal Government before any refunds. $31,000/year (or approx. $14.90/hr) to reach the full $1.7 Trillion in taxes by the adult population. Read More »
It seems to me that Congress has a concept in which they draw their conclusions when drafting and voting on a bill. From the fact that people are very different, it follows that, if we treat them equally, the result must be inequality. To be equal would be to treat them differently. Equality "before the law" and "material equality" are not only different, but are in direct conflict with each other, and we can achieve either one or the other, but not both at the same time.
The banks, Congress, and executive staff are responsible for breaking the economy. Just because people couldn't afford unjust loans (intended to realize a year or two of interest, only to foreclose and sell it again for more than what was left.) doesn't put them entirely at fault. These people have already been punished for their poor decision making, and hopefully learned from the experience. Doesn't it seem odd though? The party who obligates themselves to a loan with excessive rates and provisions are the first ones to pay a price, yet banks have continually made these deals over and over and over again, with the express approval of the Executives. Stock holders placed their trust in these companies, which was a choice of their own, however misplaced. Yet, banks pay shareholders dividends, from money that was meant to enable banks to lend again. The people who are first to receive any benefit from the economic rescue are the same people whose irresponsible and disgusting morals helped support a policy based on greed to prevent "risks" aka "taking advantage of people by always putting them at a disadvantage." Read More »
The banks, Congress, and executive staff are responsible for breaking the economy. Just because people couldn't afford unjust loans (intended to realize a year or two of interest, only to foreclose and sell it again for more than what was left.) doesn't put them entirely at fault. These people have already been punished for their poor decision making, and hopefully learned from the experience. Doesn't it seem odd though? The party who obligates themselves to a loan with excessive rates and provisions are the first ones to pay a price, yet banks have continually made these deals over and over and over again, with the express approval of the Executives. Stock holders placed their trust in these companies, which was a choice of their own, however misplaced. Yet, banks pay shareholders dividends, from money that was meant to enable banks to lend again. The people who are first to receive any benefit from the economic rescue are the same people whose irresponsible and disgusting morals helped support a policy based on greed to prevent "risks" aka "taking advantage of people by always putting them at a disadvantage." Read More »
I'm a big fan of limiting taxation. Not because I don't want to pay my part, on the contrary, I want everyone to pay their part. But I want it done according to the Constitution, which never granted a power of taxation directly on the people. Only Directly on the state, apportioned according to the population. Now, if that is the case, why would apportionment be required when taxing people directly? uniformity would be necessary for all other taxes (of the indirect nature) and I believe either a set number of cents for a specific measurement, or per cent charge.
Apportioning something according to a unit does not collect from the unit itself. How often does that happen? When you put a tax upon something, it is usually paid by the buyer, or the entity existing that is being governed by the taxer. In this case, when a state is to be charged a tax to buy a space shuttle, or other object, The cost is divided by population, or by representatives elected to congress in each state.
To tax citizens directly was never part of the deal. Only direct tax that was granted was unto the object in which the Government is formed to govern, which are the states. The money received by taxpayers are used to refund back to corporations. Out of $17 Trillion/Year Nation,
If you read more, (assuming tables and such will be preserved.) I have provided a table that shows corporate taxes and individual taxes.
You'll notice that many states have paid more than their share, most corporate taxes are refunded, sometimes in greater amounts than what was paid. Oh, and Washington D.C. has an exclusionary to Capital Gains Taxes. Read More »
Apportioning something according to a unit does not collect from the unit itself. How often does that happen? When you put a tax upon something, it is usually paid by the buyer, or the entity existing that is being governed by the taxer. In this case, when a state is to be charged a tax to buy a space shuttle, or other object, The cost is divided by population, or by representatives elected to congress in each state.
To tax citizens directly was never part of the deal. Only direct tax that was granted was unto the object in which the Government is formed to govern, which are the states. The money received by taxpayers are used to refund back to corporations. Out of $17 Trillion/Year Nation,
If you read more, (assuming tables and such will be preserved.) I have provided a table that shows corporate taxes and individual taxes.
You'll notice that many states have paid more than their share, most corporate taxes are refunded, sometimes in greater amounts than what was paid. Oh, and Washington D.C. has an exclusionary to Capital Gains Taxes. Read More »
If having a 2 party system is beneficial, I don't see it. How often do you have someone from Congress literally lead the FBI to obvious conflicts of interest? President? Supreme Court Justices?
While Republicans have been busy finding implied powers that never existed in the Constitution in the first place, neither party seems to care about investigating what appears to be intentional acts of insider trading, civil rights violations, and much more.
How much are the lives of our soldiers worth to you? Of the members that exist in the 2008 Congress, including dates back to 2004 in Capital Gains, can you believe the average return of members was between $120 Million to $165 Million? These are gains, not total worth. This is total of what they bought and sold, not what they still hold in the market. Read More »
While Republicans have been busy finding implied powers that never existed in the Constitution in the first place, neither party seems to care about investigating what appears to be intentional acts of insider trading, civil rights violations, and much more.
How much are the lives of our soldiers worth to you? Of the members that exist in the 2008 Congress, including dates back to 2004 in Capital Gains, can you believe the average return of members was between $120 Million to $165 Million? These are gains, not total worth. This is total of what they bought and sold, not what they still hold in the market. Read More »
The deception of the American Government is by far the most deplorable in existance. Never could it be imagined by our forefathers who wished it would protect liberty and Justice for all.
McCain mentions that redistribution of wealth is wrong, and cannot believe anyone would want such a thing to occur. HELLO! $700 Billion Bailout! Subsidies! and supporting Israel as they attack their neighbors!
Let me first include a few thought provoking quotes:
Guard against the impostor of pretended patriotism. -George Washington
Right is right, even if everyone is against it, nd wrong is wrong, even if everyone is for it.
-William Penn
The life of the nation is secure only while the nation is honest, truthful, and virtuous. -Frederick Douglass
It is dangerous to be right when the government is wrong.
Anyone who has the power to make you believe absurdities
has the power to make you commit injustices.
-Voltaire
The dangerous patriot... is a defender of militarism and its ideals of war and glory.
-Colonel James A. Donovan, U.S. Marine Corps
Tax - from Greek taxis "arrangement" from tassein "arrange" (see tactics)
What is a tax? It’s a fee you pay for services you or your community receive.
Direct Tax - An arrangement in which money needed to defray costs to povide a service to those being taxed. The United States can impose a tax upon a state apportioned to that states or territories population.
Indirect Taxes = An arrangement in which money is paid for general purposes.
Impost - (customs duty) a tax or other payment levied on goods brought into a country.
Excise – Taxation of or tax imposed on goods for a domestic market only.
Duties – a tax on foreign imports and exports.
Tariff – list of charges accrued in addition to the cost of the product.
Apportion - an equal share by a number of directed objects.
Quota - from Medieval Latin quota, from Latin quota pars "how large a part,"
Capitation - a form of taxation in which a Political Establishment (country) determines an amount due, and divides it in proportion each members(State Governments) population (People).
Apportion – divide something among multiple objects.
If you ask yourself what was the intent of a specific clause or article in the Constitution, it should reveal the principle of that document, and the principles of the Constitution were not amendable. Amendments are only Constitutional in situations that experience has proven the clause to be defective and the amendment was necessary to repair it. Not to change the intent, but to correct it so the intent was met. Amendments could only be applied when it was NECESSARY. PROPER, and made PURSUANT TO the Constitution. (Could not contradict what already existed in the Constitution).
Read More »Corporations have made major mistakes, and rather than admitting to it when the signs were first noticeable, they tried splitting up the risks into securities to slow down the possibility someone will notice so they can continue to sell their stock options and increase their wealth by Millions.. (Lehman Bros. CEO received over $400 Million over 10 years.)
Do you know that Paulson made over $36,000,000 annually as his normal salary? Now... Why in the world would any logical person decide to leave Goldman Sachs making that kind of money? He could have easily suggested someone who could contact him for suggestions and have continued to receive his salary and avoid any direct conflict of interest. He started CEO in 1999 and ended (supposedly in 2006) and reported the maximum level on the report of over $50,000,000 4 different times. (according to the PDF reporting documents on the opensecrets.org website. Other groups like "Omega Advisors, Inc. Multimarket Hedgefund" that pays interest, dividends and Capital Gains, has many real estate service investments in areas of the Country that showed the highest number of fraudulent loaning. Some of the assets that could be bought are homes in Indiana valued at $80,000 but had been assessed (yes they have assessment service investments as well) at well over $300,000. Our economic policies are flawed, and it is nothing more than an ancient embezzling scheme that always seems to find its way into every civilized nation. Funny how wherever we invoke war... it's in the few places around the globe that doesn't support the Goldman-Sachs/JP Morgan banking system.
The truth of the matter is, nationally based corporations are contrary to a stable economy. If you pay for a service in your state, that company needs to be based and have all of their service support within that state. (I'd even go as far as saying in that county.) The goal of each state should be to keep as much of the money spent by their residents inside the state. To have support in another state only drains more and more money from the local economy. Read More »
Do you know that Paulson made over $36,000,000 annually as his normal salary? Now... Why in the world would any logical person decide to leave Goldman Sachs making that kind of money? He could have easily suggested someone who could contact him for suggestions and have continued to receive his salary and avoid any direct conflict of interest. He started CEO in 1999 and ended (supposedly in 2006) and reported the maximum level on the report of over $50,000,000 4 different times. (according to the PDF reporting documents on the opensecrets.org website. Other groups like "Omega Advisors, Inc. Multimarket Hedgefund" that pays interest, dividends and Capital Gains, has many real estate service investments in areas of the Country that showed the highest number of fraudulent loaning. Some of the assets that could be bought are homes in Indiana valued at $80,000 but had been assessed (yes they have assessment service investments as well) at well over $300,000. Our economic policies are flawed, and it is nothing more than an ancient embezzling scheme that always seems to find its way into every civilized nation. Funny how wherever we invoke war... it's in the few places around the globe that doesn't support the Goldman-Sachs/JP Morgan banking system.
The truth of the matter is, nationally based corporations are contrary to a stable economy. If you pay for a service in your state, that company needs to be based and have all of their service support within that state. (I'd even go as far as saying in that county.) The goal of each state should be to keep as much of the money spent by their residents inside the state. To have support in another state only drains more and more money from the local economy. Read More »
According to a rumor that for obvious reasons cannot be verified easily, JP Morgan staffers provide insider trading tips to congressional representatives in exchange for favorable legislation to their benefit.
I've also noticed a few special treasury 20 yr bonds that are bought and sold the same day, or bought one day, sold the next. It definitely looks like Congress not only helped to increase their own wealth but actually promoted such actions.
In addition, if this is true... and with the known illegal wiretapping, as well as claims by those voting no on the 1st bailout that threats were made if they didn't vote yes in the next vote on the bail out... That if such activity were occuring, the President would have used that information to blackmail congress. Not only to proceed with a bailout, but impeachment. Most democrats believe Bush is guilty of many wrongful and unpatriotic acts which necessarily should be investigated, which due to lack of cooperation of the Executive staff, the only way to force the information is impeachment which an executive privilege assertion would mandate a YES to Impeach for not cooperating when such information is absolutely mandatory to be disclosed.
Sadly, conspiracy theories don't seem to be so improbable anymore. This is the country we have allowed to enslave us. You get paper that is worthless unless the Government says it has value. More paper to live on a day by day basis to survive in order to ensure maximum productivity.
Only difference now from slavery in the earlier years is there was always guaranteed work and housing and food for slaves, and today we can read better and snooty tooty masters in Congress.
Congress created Fanny & Freddie and used tax dollars in order to realize profits and have campaign contribution made in order to increase the likelihood that incumbents who align themselves with the financial interests will be re-elected, and those who don't, their opponents receive the contribution.
I've also noticed a few special treasury 20 yr bonds that are bought and sold the same day, or bought one day, sold the next. It definitely looks like Congress not only helped to increase their own wealth but actually promoted such actions.
In addition, if this is true... and with the known illegal wiretapping, as well as claims by those voting no on the 1st bailout that threats were made if they didn't vote yes in the next vote on the bail out... That if such activity were occuring, the President would have used that information to blackmail congress. Not only to proceed with a bailout, but impeachment. Most democrats believe Bush is guilty of many wrongful and unpatriotic acts which necessarily should be investigated, which due to lack of cooperation of the Executive staff, the only way to force the information is impeachment which an executive privilege assertion would mandate a YES to Impeach for not cooperating when such information is absolutely mandatory to be disclosed.
Sadly, conspiracy theories don't seem to be so improbable anymore. This is the country we have allowed to enslave us. You get paper that is worthless unless the Government says it has value. More paper to live on a day by day basis to survive in order to ensure maximum productivity.
Only difference now from slavery in the earlier years is there was always guaranteed work and housing and food for slaves, and today we can read better and snooty tooty masters in Congress.
Congress created Fanny & Freddie and used tax dollars in order to realize profits and have campaign contribution made in order to increase the likelihood that incumbents who align themselves with the financial interests will be re-elected, and those who don't, their opponents receive the contribution.
There are some people who are heads of certain committee's that receive campaign contributions from other political campaigns of people that don't usually get elected. (Making it difficult to find where that persons contributions came from, and how money had been spent.) It almost appears as if the candidates usually will only run in order to specifically pay out to other political campaigns. (Usually there are 30+ contributions to Congressional Representatives. There are also additional contributions made by these candidates which happens to be exempt from limits.
Regardless of how you look at it, any contribution made by corporations or people that represent/work for that company. If media coverage and even commercials were restricted to factual rather than speculative, and all candidates received an invitation to any broadcasted debate, then perhaps we might have a better choice then.. the person most likely to beat the guy I won't support.
Oh, btw... there are many people in Congress that have a large number of shares in the companies that were lucky enough to be bailed out. There were also many that sold those shares in 2006... before information was released about financial instability. Read More »
Regardless of how you look at it, any contribution made by corporations or people that represent/work for that company. If media coverage and even commercials were restricted to factual rather than speculative, and all candidates received an invitation to any broadcasted debate, then perhaps we might have a better choice then.. the person most likely to beat the guy I won't support.
Oh, btw... there are many people in Congress that have a large number of shares in the companies that were lucky enough to be bailed out. There were also many that sold those shares in 2006... before information was released about financial instability. Read More »
The banks are threatening and have begun withholding credit unless this bill is passed. The arguments for this bill are to protect our free markets. Preventing the onset of Socialism? Are you kidding? You shift taxation on the middle and lower class income. I sell my labor in order to support myself and live, however when the economy gets bad and I become unemployed, you decide to do an extensive audit starting with 2001. All the years returned showing as I did a substantial refund, which would help with expenses. Well, the IRS took the money and gave it to another company to pay for an unpaid student loans that I myself never used. And when I collect enough information to discuss with a 'taxpayer advocate', security is called to escort me out after I asked by what authority?
When I asked the government for help with my case, which is fully documented and researched so that there should be no doubt in the matter. However, the process given to me to resolve the issue is write a letter, and someone will get back with me in 6-8 weeks.
Congress is trying to claim that their responsibility is to vote how they think best. NO SIR. Perhaps if I could trust a congressional representative whose party received over $50 Billion in "Campaign Contribution/Deregulation Bribe" money. The actions of Congress in 1909 is equivalent to what they are doing now. It allowed for long term investors to pull their money out as soon as their obligations were clear, and in 1929 began the Great Depression.
Had the actions before 1909 leading to deregulation of the real estate market in order to fulfill more dreams of Americans, Hoover encouraged a Federal Mortgage lending system to Guarantee Credit availability such as was done recently. The Banking Interests weren't happy with Federal competition... So they froze credit, which shut down competition, allowed banks to buy up smaller banks that became too competitive. (JP Morgan...)
This all happened before. Congress seemed to be the only ones who could afford retirement. That Depression was the purpose for creating the Federal Reserve. It was to ensure that never happened again. Well.... No Sh*t! Then why are we being blackmailed into getting this bill passed? Fraud? Read More »
When I asked the government for help with my case, which is fully documented and researched so that there should be no doubt in the matter. However, the process given to me to resolve the issue is write a letter, and someone will get back with me in 6-8 weeks.
Congress is trying to claim that their responsibility is to vote how they think best. NO SIR. Perhaps if I could trust a congressional representative whose party received over $50 Billion in "Campaign Contribution/Deregulation Bribe" money. The actions of Congress in 1909 is equivalent to what they are doing now. It allowed for long term investors to pull their money out as soon as their obligations were clear, and in 1929 began the Great Depression.
Had the actions before 1909 leading to deregulation of the real estate market in order to fulfill more dreams of Americans, Hoover encouraged a Federal Mortgage lending system to Guarantee Credit availability such as was done recently. The Banking Interests weren't happy with Federal competition... So they froze credit, which shut down competition, allowed banks to buy up smaller banks that became too competitive. (JP Morgan...)
This all happened before. Congress seemed to be the only ones who could afford retirement. That Depression was the purpose for creating the Federal Reserve. It was to ensure that never happened again. Well.... No Sh*t! Then why are we being blackmailed into getting this bill passed? Fraud? Read More »
This "Economic Crisis" has happened previously in 1903, 1864, 1840, 1808, etc. The laws to regulate such practices were put in place, only to later be removed again by politicians to promote economic growth. Amazing how growth leads to depression. Too bad the economy can't take Paxil.
The "Credit Score" of a country is determined by potential production of surplus, and is paid off through taxation. This means that the people of the United States could potentially freeze the availability of Credit to the United States by not paying taxes. If the Credit of the United States, (which bankers, Executive Staff, and the Stock Market all rely on to fund their extravagant lifestyles) rely primarily on the lower and middle classes in order to obtain credit themselves, then why is it that the American Citizens have to pay off the debt of the country whose deficit exists in order to create companies to increase the number of jobs, so that more people can afford to be taxed and participate in a voluntary form of slavery through Banking Theft.
In actuality, the $5 Trillion of debt owed by the United States is based on the $300 Million people that live here. Each person being worth nearly $16,666.67 of credit that has already been extended to the Government, and it increases by at least $1,000 per person each year based on 6% Interest.
So, General Motors, Chrysler, Microsoft, AT&T, Haliburton, etc.. All owe their existance to the people in the United States. If I recall correctly, banks borrow money from the Federal Reserve with Interest. Public companies have shareholders invest their money in order to pay for operating expenses of that business. Now, it would seem to me that if a corporation sells stock to create capital, and the executives of that corporation receive stock options or grants in excess of an already excessive salary, they are really just borrowing money, and embezzling the profits made. Shouldn't those profits go to shareholders? Why isn't Job Stability a sufficient incentive to executive officers who often make between $200,000 and $1,000,000 a year annually? I would think that a person making a salary like that would do everything in their power to ensure the value of their employment has high returns for people who have invested.
There's a fee that is paid to banks to borrow money on the credit of the bank, who pays a fee to the Federal Reserve to borrow money on the Credit of the United States. Why...
Excuse me Senators, it was your "We know best" attitude that got us into this mess. If you saw a problem a while back, then why did you give up? Could it be the increase in campaign contributions to those who voted yes yesterday?
You are making the same mistake you made before, ignoring the problem, and passing legislation and terrorizing Speeches on DOOM, economy failing, destruction, gone, all gone, if you don't act now.
Economists are partially to blame. They didn't get their money out before the it was too late to be noticed. Are you aware that Real Estate deals like those that are bundled have been cited by FBI and CIA as a means to fund Alqaeda? Is that what happened? Have we been fighting an enemy, losing our children, losing our friends, losing our reputation worldwide, to fight an enemy who could only continue fighting with our own money?
Al-Qaeda has been using financial institutions to funnel money from it's financiers. I find it odd that the two primary sources have been Saudi Arabia, and the United States. The Finance committee would have oversight over any banking transaction... and I have to wonder what the hell is going on? There is no doubt that this bail out will be bad for All Americans. You're being told of the eminent danger from the same people who caused the downturn. And guess what?!?! They don't think it will actually work. They hope people won't do what follows the bailout... People all over the world and especially in the U.S. will pull out the money they have in the market in order to protect their financial situation during a time of economic crisis.
Once that happens, goodbye American Dollar. Take a good look at the person closest to you, cause you're about pass a bill that will turn that person into a possible if he/she doesn't get you first.
Why would you give someone hungry a bowl of soup, knowing full well the bowl has a hole in it? Fix the cause of the problem, then offer help to fix it. And I had hoped that terror tactics would have disappeared with the Bush Administration. Instead, the banking interests that demand this rescue are calling in loans, raising interest rates out of the blue.. all because they screwed up.
Seems to me the Bankers are telling the American people.. "We Come First, Screw your economy!" to which I say... "I see your true colors... shining through."
For those seeking re-election.. I will volunteer for your opponents. Read More »
You are making the same mistake you made before, ignoring the problem, and passing legislation and terrorizing Speeches on DOOM, economy failing, destruction, gone, all gone, if you don't act now.
Economists are partially to blame. They didn't get their money out before the it was too late to be noticed. Are you aware that Real Estate deals like those that are bundled have been cited by FBI and CIA as a means to fund Alqaeda? Is that what happened? Have we been fighting an enemy, losing our children, losing our friends, losing our reputation worldwide, to fight an enemy who could only continue fighting with our own money?
Al-Qaeda has been using financial institutions to funnel money from it's financiers. I find it odd that the two primary sources have been Saudi Arabia, and the United States. The Finance committee would have oversight over any banking transaction... and I have to wonder what the hell is going on? There is no doubt that this bail out will be bad for All Americans. You're being told of the eminent danger from the same people who caused the downturn. And guess what?!?! They don't think it will actually work. They hope people won't do what follows the bailout... People all over the world and especially in the U.S. will pull out the money they have in the market in order to protect their financial situation during a time of economic crisis.
Once that happens, goodbye American Dollar. Take a good look at the person closest to you, cause you're about pass a bill that will turn that person into a possible if he/she doesn't get you first.
Why would you give someone hungry a bowl of soup, knowing full well the bowl has a hole in it? Fix the cause of the problem, then offer help to fix it. And I had hoped that terror tactics would have disappeared with the Bush Administration. Instead, the banking interests that demand this rescue are calling in loans, raising interest rates out of the blue.. all because they screwed up.
Seems to me the Bankers are telling the American people.. "We Come First, Screw your economy!" to which I say... "I see your true colors... shining through."
For those seeking re-election.. I will volunteer for your opponents. Read More »
In order to boost the economy, Secretary of the Treasury violated his fiduciary duties by investing a large portion of the Pension Security Fund that will be bankrupt if the $700 Billion Plan isn't adopted. Congress isn't saving the economy, they are saving their Guaranteed Pensions. Adopting this bill when there are alternatives to what they have maid public as necessary, and it would get money flowing, but if it doesn't go to Goldman Sachs, then that means the pension fund is empty. This will add another $2,333.33 to each living person in the United states to cover.
The Economy isn't in danger, though the lifestyles that bankers have become accustomed to will come to an end. If this bill absolutely cannot be stopped, then they should require a full audit of these banking corporations. The Federal Reserve was suppose to prevent things such as this from happening, and therefore should be replaced with a better system that is more beneficial to the American People.
The messed up part about all of this is the fact that the 'expert opinions' that are being relied on to determine the status of our economical situation. To be honest, these economists work for Goldman Sachs, and have one interest, and one interest only, making money. (or at least not losing the lavish life they have.)
A vote for this bill will crash our dollar, and send us on the same path that was almost identical to what lead Russia to Communism.
Today, I am even more disappointed in Congress than ever. Nobody should vote for anyone who votes to approve this bill. Just because they put a bow on it, doesn't make it better.
The Economy isn't in danger, though the lifestyles that bankers have become accustomed to will come to an end. If this bill absolutely cannot be stopped, then they should require a full audit of these banking corporations. The Federal Reserve was suppose to prevent things such as this from happening, and therefore should be replaced with a better system that is more beneficial to the American People.
The messed up part about all of this is the fact that the 'expert opinions' that are being relied on to determine the status of our economical situation. To be honest, these economists work for Goldman Sachs, and have one interest, and one interest only, making money. (or at least not losing the lavish life they have.)
A vote for this bill will crash our dollar, and send us on the same path that was almost identical to what lead Russia to Communism.
Today, I am even more disappointed in Congress than ever. Nobody should vote for anyone who votes to approve this bill. Just because they put a bow on it, doesn't make it better.
It is entirely clear from recent testimony by the Secretary of Treasury and the Federal Reserve Chairman, and a report made by the federal reserve Chairman in a July 2006 monetary report to congress that the manipulators of the market were directed to do so by the Bush Administration. By increasing the cost of Oil, they created a virtual taxation that is relatively invisible to most people. It would explain the lack of investigation by the Federal government. The reason the government feels that it needs to bail out these corporations is because A. They know. B. The increase of oil increased the cost to American Citizens in getting to work everyday, leaving less and less to pay their loans, causing mortgages to foreclose. It also explains why Bush did not want to release the oil reserve into the market, because he knew the price of oil would be reduced, and he wasn't finished with his 'economic war stimulus plan".
The goals of corporations are not indifferent to those of a political party. The purpose of a Corporation is to be profitable. In order to be profitable, you place your company on the Stock Market. The Press Releases will affect stock value in good and bad ways. These press releases can be either good news or bad news. In order to keep the price of stock up, Executively Appointed departments of the Federal Government want to 'guarantee' the 'risk' which will reduce the risk altogether, and make the corporation profitable again. While that company makes a profit, those who helped to make the company profitable will get nothing. The people who made the poor decisions will be rewarded. Since the company is profitable, they will get their financial bonus. While those who have already suffered, and the 240 Million people who will also suffer afterward, are hurting, there would be no credit of America left to assist them. If the Federal Government has no money, the States also will have no credit. (The two existing in a symbiotic form.)
In Politics, the goal is to get elected for the next term. Everything you do will determine (or should) whether you get re-elected. Politicians rely on ignorance. Whether or not you vote on bad decisions, or good. Either way, you're vote should represent the people in your district. They will do anything in order to convince you to vote for them. If they lie, the cost to call you out by your opponent would need to be extremely high in order to reach enough people. I can only guess that most people don't pay any attention to c-span. But I try to catch it as often as possible, and this deal smells like crap. The body language of the Sec. of Treasury and Federal Reserve Banks.
Either way... both will manipulate through media. That includes these committee meetings and interviews. No provision of this bill will make a difference. If there isn't a full audit of these corporations, and a full audit of the 'assets' they wish to offload onto the people, then there is no reason to even consider such a thing. Both have been opposed by the writers of the plan. Manipulating the public is the goal. If this "Bill" ends up like FISA, then this means that nobody truly cares about the people, and care more about their own safety (financial and physical) at the cost of our General Welfare.
....Continued.... Read More »
In Politics, the goal is to get elected for the next term. Everything you do will determine (or should) whether you get re-elected. Politicians rely on ignorance. Whether or not you vote on bad decisions, or good. Either way, you're vote should represent the people in your district. They will do anything in order to convince you to vote for them. If they lie, the cost to call you out by your opponent would need to be extremely high in order to reach enough people. I can only guess that most people don't pay any attention to c-span. But I try to catch it as often as possible, and this deal smells like crap. The body language of the Sec. of Treasury and Federal Reserve Banks.
Either way... both will manipulate through media. That includes these committee meetings and interviews. No provision of this bill will make a difference. If there isn't a full audit of these corporations, and a full audit of the 'assets' they wish to offload onto the people, then there is no reason to even consider such a thing. Both have been opposed by the writers of the plan. Manipulating the public is the goal. If this "Bill" ends up like FISA, then this means that nobody truly cares about the people, and care more about their own safety (financial and physical) at the cost of our General Welfare.
....Continued.... Read More »
This has had me thinking a great deal. I think I have a better solution that would ensure the american people don't get robbed.
1. Have each state setup a Banking Establishment. These banks will hire people to evaluate the properties that are in default. They will offer a loan at current market value of the home in question. At that point, a new contract with the original loan corporation will be written. They will no longer have a secured loan. They will have the opportunity to collect the remaining balance INTEREST FREE. A minimum payment will be required on that loan each month. The remainder of the loan can only be enforced after bankruptcy if all other loans made by the company reduces their interest rates to below 5%.
People may consider this unfair to the businesses who exist for the purpose of making money. To be honest, the fact is, these banks have made a tremendous amount of money. Most home loans are paid within 15-20 years from the day they were issued, the rest usually is compounded interest. For 10-15 years?
I notice the chairman of todays committee that is interviewing the Treasury Secretary, and Federal Reserve Chairman is short today on interesting conclusions by committee members that oppose the $700 Billion 'gift'. Ultimately, once these debts are removed from these corporations, their stocks will sky rocket. That's why they want to offload these bad deals. You make a bad deal, you and your stockholders are responsible for those decisions. If the financial markets are not stablized the situation could be severe. Okay... I agree there could be a severity... but the people would pay a great deal by offering $700 Billion toward these bad debts which are likely to be worth only $200 Billion at most. That's assuming the majority of them aren't fraudulently. Since 2001, there was a sudden increase in fraudulent loans made across the nation.
The truth of the matter is... The victims of greed are being asked to support an economical plan that has benefited the rich and wealthy investments. I wouldn't go as far as accusing the Secretary of the Treasury, or Federal Reserve Chairman of a conspiracy to commit fraud. I would say that if they aren't guilty of fraud, then they are guilty of ignorant actions. I'd hate to say it, but the Bush Administration, and many voters act on ignorant information.
If there's a hole in the boat because your boat is in a river of lava... trying to patch the hole would appear to me as being pointless. Hope is a powerful tool. Hope is more powerful than money itself. That is why our economy is based on hope. Some hopes are squashed, others are realized. Either way, somebody pays. There is not difference between going to the Casino and spending most of your money trying to become instantly rich. As we know, most of the winnings are held by the Casino... In this case, the Casino is owned by the banks. And they want government to back these poor choices... the fact is... The Casino will always make more than what they will give out. It's almost like Government, except government will always spend more than what they receive.
2. If the current $700 Billion is to go through, it needs to be passed so that taxpayers are no longer the source for taxation, except for sales tax. NO EXEMPTIONS. Instead, going back to the true tax model in the Constitution... There are direct taxes (which is a tax on property, or Capitation tax which is a per head tax.. and is unconstitutional.) and indirect taxes (Sales Tax, Tax on Services, tax on financial gains.). These two forms of taxation must be uniform throughout the United States. Direct taxation by apportionment throughout the United States. I would recommend that the division would be by the number of Representation within Congress that are elected by the people. Indirect taxation must be uniform throughout the United states. This means the total tax law must be either a firm percentage on all of the items being taxed. (Taxes are usually paid by the person paying for the service. So that should also include Labor which is considered a service, yet American people are expected to pay for their own sale of labor, which is necessary to support their families. In the case of direct taxes, the service we are paying for is Federal Defense, and General Welfare.)
The taxation process need to go to those who burden the government the most. Sales taxation is okay for me, because all people who need to buy ANYTHING is taxed equally. The current scheme is unfair and unequal. If people are taxed... they should be taxed equally, and that taxation could be avoided by growing or raising your own foods. Read More »
1. Have each state setup a Banking Establishment. These banks will hire people to evaluate the properties that are in default. They will offer a loan at current market value of the home in question. At that point, a new contract with the original loan corporation will be written. They will no longer have a secured loan. They will have the opportunity to collect the remaining balance INTEREST FREE. A minimum payment will be required on that loan each month. The remainder of the loan can only be enforced after bankruptcy if all other loans made by the company reduces their interest rates to below 5%.
People may consider this unfair to the businesses who exist for the purpose of making money. To be honest, the fact is, these banks have made a tremendous amount of money. Most home loans are paid within 15-20 years from the day they were issued, the rest usually is compounded interest. For 10-15 years?
I notice the chairman of todays committee that is interviewing the Treasury Secretary, and Federal Reserve Chairman is short today on interesting conclusions by committee members that oppose the $700 Billion 'gift'. Ultimately, once these debts are removed from these corporations, their stocks will sky rocket. That's why they want to offload these bad deals. You make a bad deal, you and your stockholders are responsible for those decisions. If the financial markets are not stablized the situation could be severe. Okay... I agree there could be a severity... but the people would pay a great deal by offering $700 Billion toward these bad debts which are likely to be worth only $200 Billion at most. That's assuming the majority of them aren't fraudulently. Since 2001, there was a sudden increase in fraudulent loans made across the nation.
The truth of the matter is... The victims of greed are being asked to support an economical plan that has benefited the rich and wealthy investments. I wouldn't go as far as accusing the Secretary of the Treasury, or Federal Reserve Chairman of a conspiracy to commit fraud. I would say that if they aren't guilty of fraud, then they are guilty of ignorant actions. I'd hate to say it, but the Bush Administration, and many voters act on ignorant information.
If there's a hole in the boat because your boat is in a river of lava... trying to patch the hole would appear to me as being pointless. Hope is a powerful tool. Hope is more powerful than money itself. That is why our economy is based on hope. Some hopes are squashed, others are realized. Either way, somebody pays. There is not difference between going to the Casino and spending most of your money trying to become instantly rich. As we know, most of the winnings are held by the Casino... In this case, the Casino is owned by the banks. And they want government to back these poor choices... the fact is... The Casino will always make more than what they will give out. It's almost like Government, except government will always spend more than what they receive.
2. If the current $700 Billion is to go through, it needs to be passed so that taxpayers are no longer the source for taxation, except for sales tax. NO EXEMPTIONS. Instead, going back to the true tax model in the Constitution... There are direct taxes (which is a tax on property, or Capitation tax which is a per head tax.. and is unconstitutional.) and indirect taxes (Sales Tax, Tax on Services, tax on financial gains.). These two forms of taxation must be uniform throughout the United States. Direct taxation by apportionment throughout the United States. I would recommend that the division would be by the number of Representation within Congress that are elected by the people. Indirect taxation must be uniform throughout the United states. This means the total tax law must be either a firm percentage on all of the items being taxed. (Taxes are usually paid by the person paying for the service. So that should also include Labor which is considered a service, yet American people are expected to pay for their own sale of labor, which is necessary to support their families. In the case of direct taxes, the service we are paying for is Federal Defense, and General Welfare.)
The taxation process need to go to those who burden the government the most. Sales taxation is okay for me, because all people who need to buy ANYTHING is taxed equally. The current scheme is unfair and unequal. If people are taxed... they should be taxed equally, and that taxation could be avoided by growing or raising your own foods. Read More »
It is somewhat crazy that Mr. Bush talks in front of the U.N. discussing how terrorism and causing the deaths of thousands of people for some unspecified cause. Equal rights of nations large and small. Russia's invasion of Georgia...
Wait a sec... didn't Georgia admit to being the first ones to fire on the people of that city? Russia responded to protect those being attacked by the Georgia Government.
Funny, he describes tyranny, hopelessness causing violence, due to poverty, disease, and ignorance. (I think the word confused him at first.) I can't help but wonder if the fund seizing program from the 'opium' or other profits around the world have anything to do with it.
The Bush administration has been manipulating the stock market, and needed the assistance of the former CEO of Goldman Sachs in 2006. In order to get the economy working, George W. Bush authorized an increase in U.S. money to ensure that he could claim a great economy in 2004 during his re-election. They have been manipulating the market, and the bailouts have consisted of companies not competitive with Goldman Sachs. And they come in, and start buying up banking institutions. Odd, don't you think?
Wait a sec... didn't Georgia admit to being the first ones to fire on the people of that city? Russia responded to protect those being attacked by the Georgia Government.
Funny, he describes tyranny, hopelessness causing violence, due to poverty, disease, and ignorance. (I think the word confused him at first.) I can't help but wonder if the fund seizing program from the 'opium' or other profits around the world have anything to do with it.
The Bush administration has been manipulating the stock market, and needed the assistance of the former CEO of Goldman Sachs in 2006. In order to get the economy working, George W. Bush authorized an increase in U.S. money to ensure that he could claim a great economy in 2004 during his re-election. They have been manipulating the market, and the bailouts have consisted of companies not competitive with Goldman Sachs. And they come in, and start buying up banking institutions. Odd, don't you think?
Watching the body language of the Secretary, and his comments and speech dancing. It would see that the 'bad assets' he would like us to acquire are in actuality the many losses due to fraud that has been occuring in the last 7 years.
It also seems to me that the Bush Administration has been manipulating the stock market to keep the economy 'booming' over the past 7 years. If many of you remember, the stock market was having trouble and in order to afford the war in Iraq, money needed to flow.
This is not a factual story, but it is only my perception from body language and use of language (what is said, and what is 'not' said.) These guys are mentioning jobs and saving taxpayers, homeowners, etc.
The primary issue seems to be that the Financial Institutions are not loaning money due to the fact that they have enough bad debt that in order to ensure the life of the corporation, they are keeping their cushion close.
In order to get money flowing, why not create a new banking environment, and put the $700 Billion in that bank?
It would seem to me that this would be the most effective way to get banking going again.
It also seems to me that the Bush Administration has been manipulating the stock market to keep the economy 'booming' over the past 7 years. If many of you remember, the stock market was having trouble and in order to afford the war in Iraq, money needed to flow.
This is not a factual story, but it is only my perception from body language and use of language (what is said, and what is 'not' said.) These guys are mentioning jobs and saving taxpayers, homeowners, etc.
The primary issue seems to be that the Financial Institutions are not loaning money due to the fact that they have enough bad debt that in order to ensure the life of the corporation, they are keeping their cushion close.
In order to get money flowing, why not create a new banking environment, and put the $700 Billion in that bank?
It would seem to me that this would be the most effective way to get banking going again.
COUNCIL OF FEDERAL HOME LOAN BANKS
2120 L Street, NW, Suite 208
SWashington, DC 20037
Wuj3pj’4t’202.955.0002 Tel
202.835.1144 Fax
A NATION OF LOCAL LENDERS www.thlbanks.com
May 2, 2006
Federal Housing Finance Board
1625 Eye Street, NW
Washington, DC 20006
Attn: Public Comments
Re: Federal Housing Finance Board Proposed Rule: Exceaa Stock Restrictions and Retained
Earningt Requirements for the Federal Home Loan Banks.
RN Number 3069-AB30 Docket No. 2006-03
Dear Sir or Madam:
We, the Chairs and Vice-chairs of all twelve Federal Home Loan Banks, are writing to you on a matter of great importance to the Home Loan Banks and their more than 8,000 member financial institutions. The Finance Board has published a proposed capital rule that is of far reaching significance to the Bank System. This proposal deals with the fundamental nature of the concept of capital as it relates to the Federal Home Loan Banks. This issue has already been the subject of extensive legislative consideration and was addressed in the Granim-Leach-Bliley Act
We are very concerned about the regulatory approach the Finance Board has taken with respect to this issue. Further, this approach may have substantial and significant unintended consequences and other negative ramifications for the Home Loan Banks, our members, and their communities. We therefore strongly urge that the Finance Board withdraw the current proposed regulation, and instead issue an Advanced Notice of Proposed Rulemaking.
The use of the Advanced Notice of Proposed Rulemaking process will permit the Finance Board, the Banks, member institutions, and the interested members of the public to engage in a meaningful dialogue, prior to the issuance of a proposed rule, to discuss the important issues raised in your proposal, as well as other issues relating to capital and excess stock. We would envision that this process will result in a better and more reasonable way of dealing with the issues raised in your notice.
Sincerely,
Chair
FHLBank of Atlanta FHLBsnk of Atlanta
_____ __
Chair
FHLBank of Boston FHLBank of Boston
After looking on the OpenSecrets.com website, it appears that Congress & other politicians have been given approximately $50 Million each election year from the Financial market since 2000. So that adds up to roughly $200 Million dollars spent on Congress.
How in the world can we not see that this is bribery. Why would a corporation contribute to a political campaign? No reason except to get favorable votes in Congress.
At one time, there had been no lack of legal penalties to deter lobbyists from making corrupt approaches to members of congress. By section 5450 of the revised statutes every person who promises, gives, or procures to be offered any money or value to any member, with intent to influence his vote or decision on any matter pending in congress shall be punished by fine and imprisonment not exceeding three years. The same penalties are provided for any member of congress who asks or receives any valuable consideration to influence his vote or decision on any matter of legislation to which is added forfeiture of his office as a member, and permanent disqualification to hold any office of honor trust or profit under the United States. The true remedy however and the only safeguard against the corruptions of the lobby is to elect to congress none but tried and approved citizens who have shown themselves worthy of the confidence of the public. But it seems as if this law was quietly removed from the books.
But where in the Constitution does it empower congress to bail out corporations? I don't believe it is in there anyplace. The only people who benefit from the bailout are the bankers. And possibly those in Congress whose pension is all invested in the banking industry. Read More »
How in the world can we not see that this is bribery. Why would a corporation contribute to a political campaign? No reason except to get favorable votes in Congress.
At one time, there had been no lack of legal penalties to deter lobbyists from making corrupt approaches to members of congress. By section 5450 of the revised statutes every person who promises, gives, or procures to be offered any money or value to any member, with intent to influence his vote or decision on any matter pending in congress shall be punished by fine and imprisonment not exceeding three years. The same penalties are provided for any member of congress who asks or receives any valuable consideration to influence his vote or decision on any matter of legislation to which is added forfeiture of his office as a member, and permanent disqualification to hold any office of honor trust or profit under the United States. The true remedy however and the only safeguard against the corruptions of the lobby is to elect to congress none but tried and approved citizens who have shown themselves worthy of the confidence of the public. But it seems as if this law was quietly removed from the books.
But where in the Constitution does it empower congress to bail out corporations? I don't believe it is in there anyplace. The only people who benefit from the bailout are the bankers. And possibly those in Congress whose pension is all invested in the banking industry. Read More »
Posts By Month
Posts
