Author Topic: Alternative View On Root Of The Credit Crunch and Bailout  (Read 113 times)

LONDON!

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Alternative View On Root Of The Credit Crunch and Bailout
« on: October 05, 2008, 04:41:29 AM »
taken from alternative(its has a lot of fruitcake bullshit on there but they do expose the system wit factual shit certain times and thats the only reason i still check it) rense.com by michael moore



The Rich Are Staging A
Coup This Morning...
A Message From Michael Moore
9-29-8


Friends,

Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.

No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story
(http://www.nytimes.com/2008/09/22/business/22lobby.html ) in last Monday's New York Times and you can see what the real deal is:


"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.

"Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.

"At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.

"Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."


Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) ( <http://tinyurl.com/4rcd98>http://tinyurl.com/4rcd98 ) "consult" in the bailout.

The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.

And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!

Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.

Health insurance? Mike, why are you bringing this up? What's this got to do with the Wall Street collapse?

It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills.
(http://www.nytimes.com/2005/02/02/business/02insure.html )

Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened.

This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!

I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something -- NOW! Here's what you can do immediately:

1. Call or e-mail Senator Obama ( http://my.barackobama.com/page/s/contact2 ) . Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they've made. Tell him we know he has the smarts to slow this thing down and figure out what's the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.

2. Take to the streets. Participate ( http://truemajority.wiredforchange.com/event/distributedEventCalendar.jsp ) in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).

3. Call your Representative in Congress and your Senators. (Go here to find their phone numbers: http://www.visi.com/juan/congress/ ). Tell them what you told Senator Obama.

When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!

Yours,
Michael Moore
MMFlint@aol.com
MichaelMoore.com

P.S. Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY. According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill. There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks. There is NO guarantee of ever seeing that money again.

P.P.S. From talking to people I know in DC, they say the reason so many Dems are behind this is because Wall Street this weekend put a gun to their heads and said either turn over the $700 billion or the first thing we'll start blowing up are the pension funds and 401(k)s of your middle class constituents. The Dems are scared they may make good on their threat. But this is not the time to back down or act like the typical Democrat we have witnessed for the last eight years. The Dems handed a stolen election over to Bush. The Dems gave Bush the votes he needed to invade a sovereign country. Once they took over Congress in 2007, they refused to pull the plug on the war. And now they have been cowered into being accomplices in the crime of the century. You have to call them now ( <http://www.visi.com/juan/congress/>http://www.visi.com/juan/congress/ )and say "NO!" If we let them do this, just imagine how hard it will be to get anything good done when President Obama is in the White House. THESE DEMOCRATS ARE ONLY AS STRONG AS THE BACKBONE WE GIVE THEM. CALL CONGRESS NOW.
 

Low Key

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #1 on: October 05, 2008, 12:39:26 PM »
Michael Moore is a fat fuck who lies through his teeth to sell movie tickets.

The republicans were the ones who voted down the bailout the first time, and they almost voted it down again a second time. Also, it was Clinton and his cronies who signed into law the crap that made all of this happen. It wasn't until 2004, when the republicans tried to stop all of this subprime lending that the democrats stood up and told everyone to shut up and that this type of lending was working. Sure, there were more homeowners than ever, but banks were giving money to people who knew damn well they couldn't pay it back. They were given low APR rates with no down payment, but after a few years, those APR rates skyrocketed, and people who thought they would be making more money weren't so fortunate.

So let's lay blame where blame is REALLY due.

Watch this video and learn the truth.

<a href="http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1" target="_blank" class="new_win">http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1</a>
 

LONDON!

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #2 on: October 05, 2008, 12:49:23 PM »
i'll watch it later
 

Javier

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #3 on: October 05, 2008, 01:28:34 PM »
Michael Moore is a fat fuck who lies through his teeth to sell movie tickets.

The republicans were the ones who voted down the bailout the first time, and they almost voted it down again a second time. Also, it was Clinton and his cronies who signed into law the crap that made all of this happen. It wasn't until 2004, when the republicans tried to stop all of this subprime lending that the democrats stood up and told everyone to shut up and that this type of lending was working. Sure, there were more homeowners than ever, but banks were giving money to people who knew damn well they couldn't pay it back. They were given low APR rates with no down payment, but after a few years, those APR rates skyrocketed, and people who thought they would be making more money weren't so fortunate.

So let's lay blame where blame is REALLY due.

Watch this video and learn the truth.

<a href="http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1" target="_blank" class="new_win">http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1</a>

And the ones that changed their minds, only changed their minds because they got some programs in there that are only slightly related to the overall problem.  Both parties are bitches.  People like Dennis Kucinich and Ron Paul are true members of their party.  And the housing crisis was only part of the problem, blame should be given to both parties.
 

Low Key

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #4 on: October 05, 2008, 02:31:39 PM »
Michael Moore is a fat fuck who lies through his teeth to sell movie tickets.

The republicans were the ones who voted down the bailout the first time, and they almost voted it down again a second time. Also, it was Clinton and his cronies who signed into law the crap that made all of this happen. It wasn't until 2004, when the republicans tried to stop all of this subprime lending that the democrats stood up and told everyone to shut up and that this type of lending was working. Sure, there were more homeowners than ever, but banks were giving money to people who knew damn well they couldn't pay it back. They were given low APR rates with no down payment, but after a few years, those APR rates skyrocketed, and people who thought they would be making more money weren't so fortunate.

So let's lay blame where blame is REALLY due.

Watch this video and learn the truth.

<a href="http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1" target="_blank" class="new_win">http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1</a>

And the ones that changed their minds, only changed their minds because they got some programs in there that are only slightly related to the overall problem.  Both parties are bitches.  People like Dennis Kucinich and Ron Paul are true members of their party.  And the housing crisis was only part of the problem, blame should be given to both parties.

I will most definately agree to that. I was merely commenting on the root of the problem, but when it comes down to it, candidates on both sides of the fence received substantial campaign contributions from these financial institutions. The thing that really worries me, however, is that Frank Raines, who was the one who received the bulk of the kickbacks from his executive position at Fannie Mae ($90mill over 5 years in bonuses alone), happens to be Barak Obama's economic advisor. If Obama wants to seem as if he is for change as he claims to be, he should shitcan that asshole Raines immediately.
 

LONDON!

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #5 on: October 06, 2008, 07:35:46 AM »
Michael Moore is a fat fuck who lies through his teeth to sell movie tickets.

The republicans were the ones who voted down the bailout the first time, and they almost voted it down again a second time. Also, it was Clinton and his cronies who signed into law the crap that made all of this happen. It wasn't until 2004, when the republicans tried to stop all of this subprime lending that the democrats stood up and told everyone to shut up and that this type of lending was working. Sure, there were more homeowners than ever, but banks were giving money to people who knew damn well they couldn't pay it back. They were given low APR rates with no down payment, but after a few years, those APR rates skyrocketed, and people who thought they would be making more money weren't so fortunate.

So let's lay blame where blame is REALLY due.

Watch this video and learn the truth.

<a href="http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1" target="_blank" class="new_win">http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1</a>

And the ones that changed their minds, only changed their minds because they got some programs in there that are only slightly related to the overall problem.  Both parties are bitches.  People like Dennis Kucinich and Ron Paul are true members of their party.  And the housing crisis was only part of the problem, blame should be given to both parties.

you know about dennis kucinuch, he's on a level, in the midst of all of this politricks, we need more kucinuch and cythia mckinney's and jesse ventura's in the game, true stories
 

Low Key

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #6 on: October 06, 2008, 03:44:39 PM »
Michael Moore is a fat fuck who lies through his teeth to sell movie tickets.

The republicans were the ones who voted down the bailout the first time, and they almost voted it down again a second time. Also, it was Clinton and his cronies who signed into law the crap that made all of this happen. It wasn't until 2004, when the republicans tried to stop all of this subprime lending that the democrats stood up and told everyone to shut up and that this type of lending was working. Sure, there were more homeowners than ever, but banks were giving money to people who knew damn well they couldn't pay it back. They were given low APR rates with no down payment, but after a few years, those APR rates skyrocketed, and people who thought they would be making more money weren't so fortunate.

So let's lay blame where blame is REALLY due.

Watch this video and learn the truth.

<a href="http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1" target="_blank" class="new_win">http://www.youtube.com/v/_MGT_cSi7Rs&amp;hl=en&amp;fs=1</a>

And the ones that changed their minds, only changed their minds because they got some programs in there that are only slightly related to the overall problem.  Both parties are bitches.  People like Dennis Kucinich and Ron Paul are true members of their party.  And the housing crisis was only part of the problem, blame should be given to both parties.

you know about dennis kucinuch, he's on a level, in the midst of all of this politricks, we need more kucinuch and cythia mckinney's and jesse ventura's in the game, true stories

Dennis Kucinuch is not a name I am familiar with. I'll do some research on him when I get some free time. I am supposed to be doing homework right now. lol

Jesse Ventura on the other hand, I know very well since he was the governor of my state. Everyone thought we were crazy voting him into office, but he held one of the highest approval ratings of any governor ever in Minnesota. Now, however, he has strayed from his original stance on a few issues and I'm not too sure about him. He does fight for the little guy, but the way he goes about it might be considered...slightly absent minded, for lack of a better term.
 

dj dwezill

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #7 on: October 06, 2008, 09:35:26 PM »
It's not theft if you are covered and the bail out is proof ofthe cover that buying elections will get you,  while you were watching the war didn't you realize that it would take you 130 years to pay off your morgage.  The banks knew,  they will own your house soon enough.  The control of the democrats stems from gov. tax dollars they can work with, the republicans work from moneies made avalable from the private sector.  this leads to abuse in the private sector either, allowed through legeslation, or blatantly illegal activity deemed nessary for the common good.

:bomb:
[SIZE="4"]
Brits led astray by bad navigation.  Sothern Iraq, Saudi AWACS.  For me this is not a coincidence.

These crashes are the result of intentional sabatoge by Huges, from the private sector, they were able to get these AWACS in place and operating in the now current combat zone.  There have been crashes that point to just such events happining.  f18/hornet flies in front of an active patriot battery.  2 18/ hornets fly into mountian at nite.

My father was an employee of Huges.  He was billed to the Saudies as an engineer, he has a political sciense degree from the Defence Intellegence College, in Washinton, DC.  His business card said he was a Techinical Trainning Enginner.  While training the Saudies in the early 90'S, he repoted back to Hughes that the planes wern't working right.  They told him to shutup about it and continue as though nothing had happened.  After 1 or 2 more trips to the desert to train the Saudies he decided not to go back for fear of his Trainnes finding out about the deseption and cutting off his head.  He said the problem with the planes was that they were miscalibrated, resulting in operators failing to make vectors, and or, downloading faulty NAV to other planes in their operating areas.  The Saudies now have 5 of these planes working in their turf.

I don't think Bush even knows about this trick Huges is playing out with the lives of coalition forces in the area.  6 Blackhawks went down rescuing sone of the oil Execs. in Sudan.[/SIZE]



 Bush and his old school money friends, real republicans, the kind that think world over population should be curbed by

about 4 billion! Any way they are the only benefactors of this bail out and it would have been necessary even if the vote on

it came after the election.  Bush may actually try to enact emergency powers act to stay in office.  Not a bad idea since

none of the candidates is qualified. 8)  Pardon my candor but i believe that you vote has only counted as a way to encourage

mass belief that the issues that the candidates are elected on are seldom part of their actual governmental polices, changed

to suite congress, special intrests, or other big money factors having nothing to do with their citizens wishes or votes.


See if this person will do anything,     
       
United Nations
_______________
Louise Kantrow                                                           
212-703-5042
lkw@iccwbo.org


Adam Greene
212-703-5056
agreene@uscib.org



Information Technology / Electronic Commerce
____________________________________________   

Heather Shaw
212-703-5068
hshaw@uscib.org


Joseph G. Gavin III
_____________________________________________________________________
Vice President, Trade Policy and Associate Washington Representative

(202) 371-1316 or jgavin@uscib-dc.org

 
                

     


I don't think anyone can do anything.

Listen to Seanessy online at Last.fm
Listen to Seanessy's first album, Gettin' Filthy online at Last.fm
 

LONDON!!

Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #8 on: October 07, 2008, 04:34:26 AM »
It's not theft if you are covered and the bail out is proof ofthe cover that buying elections will get you,  while you were watching the war didn't you realize that it would take you 130 years to pay off your morgage.  The banks knew,  they will own your house soon enough.  The control of the democrats stems from gov. tax dollars they can work with, the republicans work from moneies made avalable from the private sector.  this leads to abuse in the private sector either, allowed through legeslation, or blatantly illegal activity deemed nessary for the common good.

:bomb:
[SIZE="4"]
Brits led astray by bad navigation.  Sothern Iraq, Saudi AWACS.  For me this is not a coincidence.

These crashes are the result of intentional sabatoge by Huges, from the private sector, they were able to get these AWACS in place and operating in the now current combat zone.  There have been crashes that point to just such events happining.  f18/hornet flies in front of an active patriot battery.  2 18/ hornets fly into mountian at nite.

My father was an employee of Huges.  He was billed to the Saudies as an engineer, he has a political sciense degree from the Defence Intellegence College, in Washinton, DC.  His business card said he was a Techinical Trainning Enginner.  While training the Saudies in the early 90'S, he repoted back to Hughes that the planes wern't working right.  They told him to shutup about it and continue as though nothing had happened.  After 1 or 2 more trips to the desert to train the Saudies he decided not to go back for fear of his Trainnes finding out about the deseption and cutting off his head.  He said the problem with the planes was that they were miscalibrated, resulting in operators failing to make vectors, and or, downloading faulty NAV to other planes in their operating areas.  The Saudies now have 5 of these planes working in their turf.

I don't think Bush even knows about this trick Huges is playing out with the lives of coalition forces in the area.  6 Blackhawks went down rescuing sone of the oil Execs. in Sudan.[/SIZE]



 Bush and his old school money friends, real republicans, the kind that think world over population should be curbed by

about 4 billion! Any way they are the only benefactors of this bail out and it would have been necessary even if the vote on

it came after the election.  Bush may actually try to enact emergency powers act to stay in office.  Not a bad idea since

none of the candidates is qualified. 8)  Pardon my candor but i believe that you vote has only counted as a way to encourage

mass belief that the issues that the candidates are elected on are seldom part of their actual governmental polices, changed

to suite congress, special intrests, or other big money factors having nothing to do with their citizens wishes or votes.


See if this person will do anything,     
       
United Nations
_______________
Louise Kantrow                                                           
212-703-5042
lkw@iccwbo.org


Adam Greene
212-703-5056
agreene@uscib.org



Information Technology / Electronic Commerce
____________________________________________   

Heather Shaw
212-703-5068
hshaw@uscib.org


Joseph G. Gavin III
_____________________________________________________________________
Vice President, Trade Policy and Associate Washington Representative

(202) 371-1316 or jgavin@uscib-dc.org

 
                

     


I don't think anyone can do anything.

Listen to Seanessy online at Last.fm
Listen to Seanessy's first album, Gettin' Filthy online at Last.fm


what your saying about bush and his circle of friends on wall street benifitting from the bailout only is the truth, just like the iraq war for oil, only benefits bush and his oil friends too, wit higher gas prices, more profits, which has directly affected food prices going up worlwide, because of higher fuel prices to produce the food stock, bush's war in iraq is directly responsible for that

a knock on affect also is bush borrowing billions of dollars and much more from the chinese goverment to go to war in iraq which has also hurt the us ecomony and the triple on affect worlwide, just so bush and his little circle of friends can have a bigger bank balance, its crazy, but thats the world we live in, crazy, fuck bush and cheney, fuck the system 
"get this money by any means nessassary"
 

Real American

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Re: Alternative View On Root Of The Credit Crunch and Bailout
« Reply #9 on: October 07, 2008, 04:33:00 PM »
Low Key speaks the truth. The Democrats were so obsessed with giving every single person in America a home, that they gave out loans to people with horrible credit and little income. Horrible policy and it goes entirely against the free mrket concept.

Not suprising we now are in deep shit. Thanks Democrats!