Thread: What is everyone hearing?

LETS KEEP THE CALLS, FAXES AND EMAILS GOING, they ARE FALTERING AND MUST BE STOPPED ON THIS BAIL OUT!!! IT IS UP TO US!!!

WE CAN DO THIS!!!

TALK RADIO LIST:

http://www.alipac.us/ftopict-76263.html


U.S. SENATE AND HOUSE CONTACT INFORMATION:

http://www.alipac.us/ftopict-63874.html

TOLL FREE

Congressional Switchboard Numbers

800-833-6354
866-340-9281
877-762-8762
866-808-0065
888-355-3588
866-220-0044

LETS KEEP CALLING, FAXING AND EMAILING UNTIL THEY TAKE THEIR HANDS OUT OF OUR POCKETS!!!!

FBI investigating: http://www.denverpost.com/nationworld/ci_10539844

Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, and insurer American International Group Inc. Additionally, a senior law enforcement official said Lehman Brothers Holdings Inc. also is under investigation.

You gotta figure, this whole thing had 'scam' written all over it from the get go. What are, basically, subprime ARM (and related no-doc, liar loan) mortgages? All investments (and mortgages recently became securitized investment products) are basically bets. These toxic mortgages were basically bets that the nearly poor would become much richer quickly, in time to make the payments. What???

But no matter, because by the time the mortgage was obviously sour, all the people who stood to profit had cashed their checks. We're talking huge numbers of people feeding off this, from the high level investment bankers, to the realtors, the assessors, the builders, the flippers, the mortgage brokers, the title companies, etc. etc. In some cases including the owners who got cash back from bad appraisals and down payment assistance programs.

http://www.time.com/time/nation/article ... ml?cnn=yes

In bailing out mortgage lenders Fannie Mae and Freddie Mac, our government has basically turned America into the largest subsidized housing project in the world.

Originally Posted by April

I've got a feeling that this request for a bailout.....which they thought they were going to panic everyone into falling for.........has opened a Pandora's Box and this thing is going to turn into something certain folks never expected in a million years to happen

God works in mysterious ways.

I agree 100% April! Something is going to happen in this country! These corrupt politicians have made one too many stops at the public trough!

I've been surfing the intertubes a lot during the last couple of days and I'd say the general consensus is that libs deride the bailout plan as corporate welfare and the conservatives think it's a huge step towards pushing the U.S. down the dark path of socialism. I'm sure the corrupt politicians are working overtime trying to figure out how to hoodwink this super-majority that is opposed to the bailout plan. My guess is that Bush will stall the proceedings so that he can provide political cover for incumbent republicans whose constituents are pressuring them to oppose the plan and the dems will be more than happy to play the waiting game until the election is over.

Apparently Europeans see through Paulson's scam too. U.S. Treasury secretary Paulson has been talking to Europe to seek some support for the efforts; the "Daily Mail" offers this advice to the prime minister. Quote, "British Prime Minister Gordon Brown does not need and should not attempt to play the role of fairy godmother to the banks." Swiss based UBS is exposed for billions of dollars in the U.S. housing market.

Gordon Brown Daily Mail Quote

Originally Posted by bigtex

Apparently Europeans see through Paulson's scam too. U.S. Treasury secretary Paulson has been talking to Europe to seek some support for the efforts; the "Daily Mail" offers this advice to the prime minister. Quote, "British Prime Minister Gordon Brown does not need and should not attempt to play the role of fairy godmother to the banks." Swiss based UBS is exposed for billions of dollars in the U.S. housing market.

Gordon Brown Daily Mail Quote

Anyone with an IQ over 50 should see this as being a major league scam.

Congressman John Culberson's Statement on the Proposed Bailout

Contact: Press Secretary Mollie Schall
Phone: 713-682-8828
Date: 09/24/08



My highest priority is protecting the Federal Treasury against unfunded liabilities. Congress must stop bailing out private investors with money pledged in advance from future generations of Americans. Treasury Secretary Henry Paulson recently announced a $700 billion plan to buy up private banks’ bad debt with taxpayer money. The plan contains no taxpayer protections and is not guaranteed to stop the credit crisis. It cedes massive authority to the Treasury Secretary, allowing him to purchase bad mortgage-related assets from any financial institution with its headquarters in the United States. Any financial institution with mortgage-related assets would be eligible, not just those who are “too big to fail.â€

Sen. Cornyn: Protecting the Taxpayers Must Be Our First Priority
Comments on Administration’s Proposal to Stabilize the Economy & Financial Markets

Monday, September 22, 2008


WASHINGTON—U.S. Sen. John Cornyn, R-Texas, Vice-Chair of the Senate Republican Conference, made the following statement today regarding the Administration’s proposal to help stabilize the economy and financial markets:

“I have great respect for the knowledge and experience that Secretary Paulson and Chairman Bernanke bring to this debate. Their views must be taken seriously. However, I expect members of both parties, including myself, will have tough questions this week as Congress works toward what I hope will be a bipartisan solution. In these economically trying times, more than ever, Democrats and Republicans need to rise above partisan politics and work in the best interests of the American people.

“My constituents in Texas should know that several key principles will be guiding my views in the days ahead.

“First and foremost, protecting the taxpayers must be our first priority. I have serious reservations about asking those who played by the rules to bear the burden of those who made irresponsible and risky financial decisions. The interests of the American taxpayer must be the key, guiding principle moving forward.

“Second, we must ensure that the American economy remains stable and small businesses continue to have the ability to grow and create new jobs. America’s small businesses are the backbone of the American economy and access to credit is critical to their survival.

“Third, as a longtime advocate for transparency in government, I believe the taxpayers deserve to know all of the details surrounding this proposal. Congress should also pursue new efforts aimed at lifting the veil of secrecy surrounding Wall Street deal-making. A lack of transparency is a major reason for the current crisis.

“Finally, we should aggressively investigate, and prosecute any possible criminal actions by corporate executives who crossed the line and broke the law. It is for this reason that I have already called on the Attorney General to begin a criminal investigation of executives at Fannie Mae and Freddie Mac.

“I look forward to the testimony of Secretary Paulson and Chairman Bernanke before the House and the Senate this week. More details remain to be known, and tough questions need to be asked, as Congress considers their proposals.â€

Here's Marci Kaptur:

http://www.youtube.com/watch?v=Lmz7iQAL ... ture=email