Time Is Running Out - From Ron Paul

[Richard]

9-25-8
 
Dear Friends,
 
Whenever a Great Bipartisan Consensus is announced, and a compliant  media assures everyone that the wondrous actions of our wise leaders  are being taken for our own good, you can know with absolute  certainty that disaster is about to strike.
 
The events of the past week are no exception.
 
The bailout package that is about to be rammed down Congress' throat  is not just economically foolish. It is downright sinister. It makes  a mockery of our Constitution, which our leaders should never again  bother pretending is still in effect. It promises the American people  a never-ending nightmare of ever-greater debt liabilities they will  have to shoulder. Two weeks ago, financial analyst Jim Rogers said  the bailout of Fannie Mae and Freddie Mac made America more communist  than China! "This is welfare for the rich," he said. "This is  socialism for the rich. It's bailing out the financiers, the banks,  the Wall Streeters."
 
That describes the current bailout package to a T. And we're being  told it's unavoidable.
 
The claim that the market caused all this is so staggeringly foolish  that only politicians and the media could pretend to believe it. But  that has become the conventional wisdom, with the desired result that  those responsible for the credit bubble and its predictable  consequences - predictable, that is, to those who understand sound,  Austrian economics - are being let off the hook. The Federal Reserve  System is actually positioning itself as the savior, rather than the  culprit, in this mess!
 
* The Treasury Secretary is authorized to purchase up to $700 billion  in mortgage-related assets at any one time. That means $700 billion  is only the very beginning of what will hit us.
 
* Financial institutions are "designated as financial agents of the  Government." This is the New Deal to end all New Deals.
 
* Then there's this: "Decisions by the Secretary pursuant to the  authority of this Act are non-reviewable and committed to agency  discretion, and may not be reviewed by any court of law or any  administrative agency." Translation: the Secretary can buy up  whatever junk debt he wants to, burden the American people with it,  and be subject to no one in the process.
 
There goes your country.
 
Even some so-called free-market economists are calling all this  "sadly necessary." Sad, yes. Necessary? Don't make me laugh.
 
Our one-party system is complicit in yet another crime against the  American people. The two major party candidates for president  themselves initially indicated their strong support for bailouts of  this kind - another example of the big choice we're supposedly  presented with this November: yes or yes. Now, with a backlash  brewing, they're not quite sure what their views are. A sad display,  really.
 
Although the present bailout package is almost certainly not the end  of the political atrocities we'll witness in connection with the  crisis, time is short. Congress may vote as soon as tomorrow. With a  Rasmussen poll finding support for the bailout at an anemic seven  percent, some members of Congress are afraid to vote for it. Call  them! Let them hear from you! Tell them you will never vote for  anyone who supports this atrocity.
 
The issue boils down to this: do we care about freedom? Do we care  about responsibility and accountability? Do we care that our  government and media have been bought and paid for? Do we care that  average Americans are about to be looted in order to subsidize the  fattest of cats on Wall Street and in government? Do we care?
 
When the chips are down, will we stand up and fight, even if it means  standing up against every stripe of fashionable opinion in politics  and the media?
 
Times like these have a way of telling us what kind of a people we  are, and what kind of country we shall be.
 
In liberty,
 
Ron Paul 

http://www.rense.com/general83/dmb.htm

[Sily]

I liked when he called it *sinister*.  BRAVO Ron Paul!

Here's a lady from Ohio that's mad as hell and not going to take it anymore:

Rep. Marcy Kaptur, D- 9th Dist., Toledo, Ohio

Vid. - http://www.youtube.com/watch?v=S27yitK32ds

Transcript:

Ms. KAPTUR. Mr. Speaker, here is the latest reality game. Let's play Wall Street Bailout.

Rule one: Rush the decision. Time the game to fall in the week before Congress is set to adjourn and just 6 weeks before an historic election so your opponents will be preoccupied, pressured, distracted, and in a hurry.

Rule two: Disarm the public through fear. Warn that the entire global financial system will collapse and the world will fall into another Great Depression. Control the media enough to ensure that the public will not notice this.

Bailout will indebt them for generations, taking from them trillions of dollars they earned and deserve to keep.

Rule three: Control the playing field and set the rules. Hide from the public and most of the Congress just who is arranging this deal. Communicate with the public through leaks to media insiders. Limit any open congressional hearings. Communicate with Congress via private teleconferencing calls. Heighten political anxiety by contacting each political party separately. Treat Members of Congress condescendingly, telling them that the matter is so complex that they must rely on those few insiders who really do know what's going on.

Rule four: Divert attention and keep people confused. Manage the news cycle so Congress and the public have no time to examine who destroyed the prudent banking system that served America so well for 60 years after the financial meltdown of the 1920s.

Rule five: Always keep in mind the goal is to privatize gains to a few and socialize loss to the many. For 30 years in one financial scandal after another, Wall Street game masters have kept billions of dollars of their gain and shifted their losses to American taxpayers. Once this bailout is in place, the greed game will begin again.

But I have a counter-game. It's called Wall Street Reckoning. Congress shouldn't go home to campaign. It should put America's accounts in order.

To Wall Street insiders, it says ``no'' on behalf of the American people. You have perpetrated the greatest financial crimes ever on this American republic. You think you can get by with it because you are extraordinarily wealthy and the largest contributors to both Presidential and congressional campaigns in both major parties, but you are about to be brought under firm control.

First, America doesn't need to bail you out, it needs to secure the real assets and property, not your paper, that means the homes and properties of hardworking Americans who are about to lose their homes because of your mortgage greed. There should be a new job for regional Federal Reserve Banks. We want no home foreclosed if a serious work-out agreement can be put into place. And if you don't do it, we want a notarized statement by a Federal Reserve official that they tried and failed.

Second, taxpayers should directly gain any equity benefits that may flow from this historic bailout. We want the American people to get first priority in taking ownership of the institutions that want to pass their toxic paper onto the taxpayers.

Third, before any bailouts for Wall Street, America needs major job creation to rebuild our major infrastructure. America needs assets, not paper. We need working assets.

Fourth, the time for real financial regulatory change is now, not next year. A modernized Glass Eagle Act must be put in place. We need to reestablish locally-owned community savings banks across this country and create within the Justice Department a fully funded unit to prosecute every single high-flying thief whose fraud and criminal acts created this debacle and then forced their disgorgement of assets going back 15 years.

Fifth, any refinancing must return a major share of profits to a new Social Security and Medicare lockbox, where the monies can go to pay for a dignified and assured retirement for every American. This Member isn't voting for a penny of it. Those who created and profited from this game of games must be brought to justice. The assets they stole must be returned to the American taxpayers, right down to the tires on their Mercedes.

Mr. Speaker, I ask my colleagues to join me in cosponsoring my bill to create an independent commission to investigate these well-heeled wrongdoers. Real reform now, or nothing.