Stop Paulson's Plunder
Email Congress. And join a Thursday protest, at Wall Street if possible, plus Rainbow PUSH protest in DC Friday.
Watch Thursday's Democracy Now! with Ralph Nader and Arun Gupta.
Here's Senator Bernie Sanders' proposal, and Congressman Dennis Kucinich's and Rep. Peter DeFazio's. Here's how much money we're talking about. And this is only stage one. They've been sitting on this plan for months, and it won't work, so stage two may already be written too. Here's what will suffer. Listen to Rep. Marcy Kaptur. Is Barney Frank Selling Democrats Out? Here's Thom Hartmann.
September 23, 2008, Progressive Caucus letter to Pelosi: PDF.
September 24, 2008, Progressive Caucus letter to Pelosi: PDF.
Here's Dick Cheney's favorite part of the Paulson Plunder Proposal: "Sec. 8. Review. 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."
Here's Paulson's conflict of interest and fault, and McCain's.
| Attachment | Size |
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| 09.23.08letter.pdf | 116.83 KB |
| 09.24.08letter2.pdf | 183.75 KB |


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www.VelvetRevolution.us
NO WALL STREET BAILOUT!
The panic on Wall Street is a direct result of bad lending practices. The bad lending practices are a direct result of deregulation in the home mortgage market. I'm a bit disgusted by the attitude being shown by these failing Companies top executives. They want quick passage of a 700 billion dollar bailout, paid by the taxpayers. Yet they're not willing to compromise on their own personal multi billion dollar retirement and severance packages.
Even though it was their bad policies that bankrupted their own Companies. They took their Company and stock shareholders over the edge of a cliff, and now expect to be rewarded for their mismanagement. These top executives knew these loans were extremely risky. But they just couldn't resist the temptation of the quick buck to be made. Pure Corporate greed.
Any taxpayer bailout needs strict oversight and specific terms. Lack of oversight was at the core of what got us into this mess. Congress shouldn't be pressured by the White House to rush a quick, but possibly ineffective fix to this. A few years back it was Enron,..Arthur Andersen.... Now Bears and Stearns,..Fannie Mae,..Freddie Mac,..AIG.... It's like a Corporate crime wave swept across our nation these past seven or eight years. What Company will need to be bailed out next week, or next month? Even the Wall Street analysts don't seem to know where the bottom is here. The Bush years can't end soon enough.
Jeff Morris-Saugerties, N.Y.- DeJaVu57
NO WALL STREET BAILOUT- PART TWO- (A BETTER IDEA)
The no oversight, no review, no challenging, no overturning in Court, part of Paulson’s bailout plan is anti everything American. Was this a provision insertion from Cheney? I think I smell the foul stench of Deferment Dick in all this. This is the final step in the neo cons looting of the U.S. Treasury. The debt from this bailout, the Iraq war, the tax breaks for the wealthiest… will now total over two trillion dollars! Could go much higher. With a National debt exceeding eleven trillion dollars!!!
Politicians from both parties should be ashamed of themselves if they approve this bailout. The debt to be paid by our children and grand children has become obscene. Why do Americans continue to pay taxes? Do you like how your money is spent? Corporate bailouts, Iraq, tax breaks for the wealthiest…. If Congress wont stop this bailout, then “We The People” should. It’s time for a tax revolt people! Hell, it’s time for a full blown Revolution!
Jeff Morris-Saugerties, N.Y.- DeJaVu57
NO BANKER LEFT BEHIND
That should be the name of Bush's bailout plan. The endless borrowing by this administration has the Country now on the verge of another Great Depression. You've done a heck of a job King George. I have to laugh when Republicans trot out that same old and tired "Tax And Spend Democrats" Bill Clinton(Democrat) was handed a hefty deficit by George H.W. Bush(Republican.) Clinton not only balanced the budget, but also handed off a 281 billion dollar budget surplus to George Junior Bush.(Republican) Look what Junior Bush did with the surplus. A new record deficit. Topped Daddy's deficit by light years! The Dems should hit them right back with "The Borrow And Spend" a whole lot more Republicans!
Once again the Bush administration acts as if their policies had nothing to do with their latest disaster. But then again, when has the Bush administration ever taken responsibility for any of its failures? The gang that couldn't shoot straight who've brought us the failures of 9-11, Iraq war, Katrina, now the Wall Street meltdown.... If Congress doesn't act quickly then the consequences will be their fault? What a crock! They took us from surplus to record deficit, destroyed our reputation throughout the world, mismanaged their unnecessary war in Iraq. They ignore the rule of law, ignore court subpoenas to testify, trashed our Constitution and what is now our joke of a Justice Dept.... I have to laugh at Sen McSame. Ten days ago he said the fundamentals of our economy are still strong. But ten days later he temporarily suspends his campaign, now refuses to debate Obama, and now claims our economy is in such a crisis he must return to Washington to save the day.... This old man is a clueless fool who is clearly unfit to be our next Commander in Chief.
Jeff Morris-Saugerties, N.Y.- DeJaVu57
BAILOUT.......MUSHROOM CLOUD OVER WALL STREET!
It's troublesome how many Wall Street analysts and economists think this bailout plan wont work, or wont be enough. We're being told that the consequences of doing nothing could be so bad something must be passed quick, right? Seems we've been here before. We were told Iraq posed such a grave threat that we had to act (invade) now. Or the consequences could come back to us in the form of a mushroom cloud. Now we're being told we must act now or the consequences could be a mushroom cloud over Wall Street this coming week.
It's playing the fear card again. Only instead of War fears, it's economic fears this time. Between the tax cuts for the wealthiest, the fraud and War profiteering in Iraq, and now a 700 billion dollar Wall Street bailout, there's been an incredible amount of wealth transferred from the poor and middle class to the already ultra rich. Under Fascism big Corporations control Government. Big Corporate money does have incredible clout in policy making in our Government today, right?
I fear this is one last looting of the U.S. Treasury by the Bu$hCo crime cabal before they go riding off into the sunset and out of office. They will have successfully tied the hands of our next President, preventing him from doing many of the things he may have wanted to do. We'll be too bankrupt a nation for any real economic prosperity or expansion.
Jeff Morris-Saugerties, N.Y.- DeJaVu57
banks aready borrowed 188 billion a day last week
so if thats just barley keeping the economy afloat for a week then what do they think will be the out come of just 700 billion more our next pres. ron paul said we will be in depression for about the next 10 years so should we go for 20 or the next 100 years why wip a dead horse lets make a new start . go for total restructure vote ron paul he is the best chance for change and he is willing to change things for we the people the other two corperate hoars running will change nothing they talk more war more money but the real change american people cant or wont be done by them . just because the censured news meadia pushes oboma macane on as they are the only ones doesnt mean we cant vote for ron paul the pres. that will work for the people. and if we show him we are watching his every move closely it will help keep honest and not bought
Same Deal as Warren!
If we the tax payers have to bail out the financial companies, i think we should get the same sweert heart deal Warren Buffett got with Goldman Sachs!
at802
Don't you think it is high time to STOP BEING A TAXPAYER?!
Great Depression, or Depression Part II?
Keep in mind that World War I was originally called "The Great War" or "The War to End All Wars" ... right up until they did it all a second time. Then "The Great War" became "World War I"; with the follow-up also given a number. It all makes me wonder if the worthless, greedy b**tards will simply rename "The Great Depression" as "Depression I". If they do want to stick with the word great, they ought to do their renaming along the lines of, "The Great Robbery of the Working Class, Part II".
It isn't all Bush. It's Cheney; it's Congress; it's all of Washington. They're not only complicit, it's their plan and their follow-through: but our loss. LET the rich go bankrupt! Who cares?! Better yet: make them all WORK for their bread! (Preferably, doing something like stamping license plates.) What ever happened to cause-and-effect, and suffering for bad deeds and bad plans? What will keep them from Depression III?
People, it's time to de-register from whichever of the two big rip-off parties you're a member of. Become an independent. The primary elections are over with, now ... there's no reason NOT to de-register as a Democrat, if you feel the Democrats who are allegedly there to protect us all, betrayed all Americans. (And they did.) Go to your courthouse, and register as an independent, NOW!
I can't imagine any foreign enemy more scary than Washington.
I don't get it?????
Consider this from Wikipedia "As of September 2008, the total U.S. federal debt was approximately $9.7 trillion[2], about $31,700 per capita (that is, per U.S. resident). Of this amount, debt held by the public was roughly $5.3 trillion. Adding unfunded Medicaid, Social Security, Medicare, and similar obligations, this figure rises to a total of $59.1 trillion, or $516,348 per household."
So what actual REAL CASH does Mr Bush have to offer this bail-out? What actual hard $$$$ does he have for the expanding wars he started????? Where is the money rely coming from?????
Simple:
THE FUTURE >>>>>>>>>>......................
It's the credit card mentality to the Nth degree.
(Well, either that or they are secretly begging at the Chinese door or printing "greenish paper" 24/7.)
THE CHINESE JUST STOPPED SOME OF THE PLUNDER...
the chinese central bank just CUT OFF THE U.S. FROM ANY MORE DEBT NOTE WRITING AND I THINK THIS WILL STOP THESE SONS OF BITCH'S MORE THAN THE 'IN THEIR POCKETS' SENATE AND CONGRESS.
AMAZING HOW A FOREIGN GOVERNMENT'S 'BANK' WILL HAVE MORE EFFECT THAN ANYTHING THESE CRAZY SONS OF BITCH'S ON THIS CONTINENT WILL EVER HAVE HAD.
What Happened to the Smirk?
Little George Stupid was on TV last night and again this morning. I have to admit I watched very little of it; didn't know what I would do with all the vomit. But from what little I did see, I noticed the little smirk and strutting swagger was gone. Mabe it has finally dawned on little George that he may be able to get away with murder, war crimes and torture but his goose is cooked when he fucks up the economy, as in "it's the economy stupid".
Mabe finally the people are getting the connection between the Iraq War, the high cost of energy, the empire, massive deficit spending and the economy and ultimately their rapidly lowering standard of living?
"It's the economy stupid"
HEY AT802
You know what i like to do when the president is on tv, i like to turn the volume all the way down, and just look at his stupid facial expressions that he makes while he talks.
You want to know how to tell when he is lyin?
his lipps are movin.
Hey SCOTT ALLEN
I chuckled and still have a smile on my face regarding your comments to AT802. I do the same thing... Watch the stupid expressions with disgust. Everything is a lie and I quit listening too him after he gave that ridiculous speech about being "with us or against us". I was disgusted after that. (By the way, I could not believe how many people were NOT disgusted after hearing that. It was shocking.)
Hey SCOTT ALLEN
I chuckled and still have a smile on my face regarding your comments to AT802. I do the same thing... Watch the stupid expressions with disgust. Don't really need to HEAR the lies anymore. Actually, I quit listening too him after he gave that ridiculous speech about being "with us or with the terrorists" (Kind of an oxymoronic statement isn't it? I never thought about that one before. Maybe he should have said, "when you're with us, you're with the terrorists.") I was disgusted after that. (By the way, I could not believe how many people were NOT disgusted after hearing that. It was shocking.)
What Now, Progessive Caucus?
Dear Progressive Caucus Members:
I VERY much appreciate your letter of Sept. 24th to the Speaker, and the amendments you request (will insist upon?) before any vote on the Paulson proposal. [Are you sure of the underlying facts behind Paulson's doomsday assertions, so that you are comfortable that his approach is wise? Or should Congress seek a second (and third) authoritative opinion and much more detail from outside the government...?]
However, as you know, that letter means nothing if you do not intend to stand behind its words.
So: which will it be? Nation or Party, when the party bosses put the pressure on to shut up and follow the Democratic leadership - which itself is following Bush and the Republican Caucus, rather than listening to and accommodating all points of view from our legislators?
I understand that just such political pressure started in earnest Friday evening, when Pelosi informed you that you could take primary-mortgage relief (your Point #3), and shove it (because the Republicans said so)...
WE NEED THE PROGRESSIVE DEMOCRATIC CAUCUS TO PUBLICLY EMERGE and FIGHT FOR US.
You are all individual legislators representing Americans. Nancy Pelosi and Steny Hoyer do NOT represent me or most Americans. None of us elected them to "lead us" - and most of us have little use for their deceitful and destructive party power plays (recklessly enabled by the lemmings known as the Democratic Caucus). This nation needs guts right now in Congress, and the only ones demonstrating it are House Republicans (and Richard Shelby in the Senate), and House Democrats like Brad Sherman. Will you join them - publicly and loudly?
Force a stand-off between minority Republicans and minority (progressive) Democrats until true compromise can be reached - on critical amendments, and possibly on the underlying approach to the (ill-defined, undescribed) problem at hand.
Or else, please stop playing at being a "progressive caucus" willing to buck a corrupt Pelosi Party Line - a party "leadership" line that continues to trample on democratic process and open debate in the Congress while exhibiting contempt for the American people and for those who would speak and act on our behalf.
Interesting
They have to hurry, hurry, hurry to bailout the banks. But they don't have time to help the 9ll 1st responders. There is a bill that they are letting die as we speak to help these people. Hum.
4Peace