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I participated in a roundtable discussion last night with a number of Minnesotans, including a community bank president, a medical device entrepreneur, retiree, and a diversity consultant. The topic: the impact of the credit crunch and the bailout on their lives. What were they seeing? What troubled them?
It was a good conversation. You can listen to the broadcast on Minnesota Public Radio it here.
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Comments (1)
October 3, 2008 7:52 AM
The bailout Swindle flagrantly violates the U.S. Federal Constitution, which specifically defines the general welfare as the law of the land. This is an un-Constitutional fraud. hold those people accountable to this criminal action as it is tantamount to treason.Fannie and Freddie are at the Heart of Treasury Secretary Henry Paulson's and the Federal Reserve chairman Ben Bernanke's insane scheme to bail out the banks by dumping all their bad mortgage paper into the two government -sponsored enterprises, effectively transferring the bank's losses to the government, and, ultimately, to the taxpayer. The government is not really bailing out Fannie and Freddie, but merely funding their conversion into the largest toxic financial waste dumps in history. Far from being saved, Fannie and Freddie are being destroyed. Once the American people figure out what Paulson, Dodd, Felix Rohatyn, 'Bailout Barney' Frank, and Pelosi have done, they will be out for blood. Nobody knows how big an illegal, unauthorized tax is going to be imposed on Americans to bail out these swindlers and speculators, but it will easily run into the tens of trillions of dollars. Mix in the hyperinflation already skyrocketing the bailout price and you get the picture. TAXATION WITHOUT REPRESENTATION!!! SWINDLE, COERCION, UN-CONSTITUTIONAL FRAUD, TREASON, are felonious crimes upon which no legal Tax can occur given the Tax cannot be based upon these criminal actions.
Again, bailout that is tantamount to Treason as it is a looting mechanism aimed at the American Taxpayer and the Sovereign U.S. Nation.
1. It represents a "fascist coup" against the U.S. Constitution, giving totalitarian powers to Treasurey Secretary Henry Paulson for bailing out his friends at Goldman Sachs and other theives in the financial system;
2. The implementation of this coup is made possible by the actions of "a bunch of prostitutes" in the U.S. Congress, characterized by Democratic and Republican supporters of the plan, who are putting their dependence on high-roller financial contributors above the intersts and wishes of their constituents;
3. If it is approved, there will be a disintegration of the financial system through a hyperinflaationary process;
4. If it is not approved the system disintegrates as well;
5. Both Numbers 3 & 4 will plunge the world into a breakdown crisis comparible to the 14th-Century Dark Age. The only solution is to put the system under bankruptcy reorganization!!!