Four pieces on the obviously totally staged, acted, executed response to the provoked, (also staged) financial "coup" being called a crisis.
Like all theatre at it's worse, it is unconvincing and very very expensive. In this case it is downright criminal.
by Liam Scheff
The Powers that Be Speak:
“The people will give 700 Billion Dollars to pay for the cheating, lying and failure of the dozen or so wealthiest men in the world!”
Want to know how it ends up? It’s been done before:
Don’t want a “Government-Fixed” future?
Write ‘em - NO to the Fed Bailout. YES to a moderate infusion, with strict regulation and oversight , as America moves forward into an economy of Less consumption, more Conservation, Less restrictive monopoly in major industry, and more freedom for Innovation in the design, building and implementation of the major planks of our economy.
If it’s all above your head, then at least stop the hemorrhaging, and support Congressman Chuck Schumer’s contingency “We’ll give you enough, you greedy bastards, and we’ll see if you can manage not to f*** that up” plan.
The Housing/Financial Crisis Patriot Act - The End of America as You Knew It.
from housingpanic.blogspot. com
America is about to be legally stolen from the people, and given to a very small group of powerful men.
The Patriot Act of Finance, otherwise known as Paulson's $700 billion bailout bill, if passed in its present form will be the nail in the coffin for an America by, for and of the people.
Just like the Patriot Act appeared to be written before 9/11, so does this Patriot Act of Finance appear to be written before the housing crash. And yes, both were rushed through a panicked Congress and complacent media in the middle of the night.
A nation founded by the people, for the people will be given to a very select group of bankers. Legally. Without a shot fired. Because Americans were too distracted and too dumb to know what was going on.
Here's how it will be done:
1) The key line in the proposed bill is this one:
"The Secretary's authority to purchase mortgage-related assets under this Act shall be limited to 700,000,000,000 dollars outstanding at any one time"
What this does is give Hank Paulson, acting as an emperor with unchecked control over the nation's treasury, a $700 billion line of credit in which he can buy up toxic debt for whatever price he'd like to pay, $700 billion at a time.
In other words - he could buy trillions. Trillions and trillions and trillions. Buying and selling, buying and selling.
He can sell the junk he buys from his banker friends for whatever price he wants, saddling the taxpayers with the loss. He keeps this process going, using his $700 billion credit card. Buy for 60 cents on the dollar, sell for 30 cents on the dollar. Buy for 80 cents on the dollar, sell for 5 cents on the dollar. He's in charge.
$700 billion folks IS JUST THE LINE OF CREDIT. He can purchase trillions and trillions of bad debt with this credit card, as long as only $700 billion is OUTSTANDING at any one time.
2) Hank Paulson, CEO of Goldman Sachs on leave, has complete and total control over the nation's treasure. He would be unchecked by Congress, unchecked by the President. He will be king. Here's the text:
"The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation"
Using this power, Hank Paulson of Goldman Sachs could pay Goldman Sachs anything he wanted for their mortgage assets. Let's say the market value was 20 cents on the dollar. Hank Paulson could pay them 100 cents on the dollar. Its his decision and his alone. No oversight. No limitations. Hank Paulson could simply give the nation's treasure to Goldman Sachs.
Get it now?
3) Deputizing the banks and investment banks as "agents of the government". Seriously. Here's the text:
"Designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them"
4) Have no outside control over the firesale of assets and loss to the taxpayer. Again, Hank Paulson and Hank Paulson alone shall be in control. No auditors. No oversight. No multiple bids. No nothing. Hank Paulson and Hank Paulson alone. Here you go:
"Sale of Mortgage-Related Assets. The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act."
5) Hank Paulson has final say. Hank Paulson knows what's best. Hank Paulson cannot be reversed. Hank Paulson cannot be sued. Hank Paulson is king.
"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"
So, what can you do? Normally here I'd say contact your corrupt Congressman or Senator. Contact the media. But folks, Congress has been bought. The media have been bought.
The American people have lost.
Deal with it.
So unless there's rage in the street, which there won't be - the new Fall TV season is starting - it's over. They win. In eight short years, they took everything they wanted. And nobody could stop them.
The only hope, for the hopeful? That we can run out the clock, and this bill doesn't pass until Bush and Paulson are gone. But if that's the case, and the bill does pass after January 2009, then the question is - who do you trust more - the outsider or the insider. And with this much on the line, will the outsider be allowed to win?
If this bill does pass ASAP, well, then watch Paulson get busy with his new credit card as fast as he can. He only has four more months. He'll be buying up crap as fast as he can in a desperate and reckless orgy of greed.
Regardless of how this plays out, prepare the best you can. Know what is happening in your former country, and do what is best for you and your family to survive.
I'm off to go find my tin foil hat now. I'm not usually one for conspiracy theories.
Welcome to the final stages of the coup...
The Huffington Post Larisa Alexandrovna
UPDATES AT BOTTOM
If you must break the law, do it to seize power: in all other cases observe it. ~ Julius Caesar
In 2000, the long fought for and long admired democracy of the United States of America began a slow and steady decline toward fascism - a Bush family tradition - with the installment of a president - a man the citizens overwhelmingly rejected (although the funny math told a still believed myth) - by a few corrupt judges on the US Supreme Court. That coup is now nearly complete and checkmate is all but unavoidable.
Let me first point you to the Bush administration's so-called Wall Street bailout bill, here, so that you can see for yourself that this treachery is being conducted in the light of day. Fascism is finally and formally out of the right-wing closet even if the F word is not yet openly being used (although it should be, and often).
Now, if you do not yet understand that the Wall Street crisis is a man-made disaster done through intentional deregulation and corruption, I have a bridge in Alaska to sell to you (or Sara Palin does anyway). This manufactured crisis is now to be remedied, if the fiscal fascists get their way, with the total transfer of Congressional powers (the few that still remain) to the Executive Branch and the total transfer of public funds into corporate (via government as intermediary) hands.
I would guess that this has to be one of the biggest peacetime transfers of power from Congress to the Administration in history. (Anyone know?). Certainly one of the most concise.
The Treasury Secretary can buy broadly defined assets, on any terms he wants, he can hire anyone he wants to do it and can appoint private sector companies as financial deputies of the US government. And he can write whatever regulation he thinks are needed.
Most importantly, Davidson points to this passage in the bill:
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.
The Bush family, in the form of Prescott Bush, has tried a more aggressive coup before in order to install fascism in this country. This treasonous plot was called "the Business Plot," because the high-level plotters - including Prescott Bush - were Wall Street men who openly supported fascism.
It seems this time around, the Bush family is trying the more subtle approach to open bloodshed: first create a crisis, then under the guise of addressing that crisis, overthrow democracy. Yes, it does sound terribly conspiracy-theory-esque when explained just this way. But what else does one call a criminal conspiracy to destroy Congressional powers permanently, alter Judicial powers permanently, and steal public funds?
As I see it now, we have but two options and I have long alluded to hoping against hope that one of these options would not be the only one left to a peaceful people. The first and frankly most preferable option is for Congress to immediately begin impeachment proceedings against the members of this latest Business Plot.
No time needs to be wasted on hearings as we already now have in writing, formally as presented to Congress, the intentions of this administration to nullify Congressional powers permanently, to alter Judicial powers permanently, and to openly steal public funds using as blackmail the total collapse of the US economy if these powers are not handed over. You do see how this is blackmail, do you not? You do see how this is a manufactured crisis precisely designed to be used as blackmail, do you not?
The other option, the one I have long prayed we would never need to even consider, is a total revolution. But, If Congress won't act in its own self-defense, in the defense of democracy, in defense of us - the people who have elected them to protect us from this very danger - then what is left for us to do? I don't want to see it come down to this, but I fear that it will. Put your party politics aside right now. We are in a crisis so dangerous that should these people succeed in their coup, your party affiliation will no longer matter, your American flag will be a nice collectible item of something that once was, and your version of God will be worshiped in secrecy because your freedoms will be owned by the few.
You are no longer Republicans, Democrats, or any shade of voter. You do not live in a swing state or a solid colored state. You are simply this: an American. That is the only side that matters. So call your members of Congress and demand, no, declare that unless they do their duty to the Constitution and to us, we will move to the streets - not because we want to, but because our founding fathers demanded this duty of each and every citizen in the face of such a domestic enemy. Demand - as is your right - that this bill be voted against and demand - as is your right - that the people plotting this treachery be held to account. We are either a nation of laws or we are no longer a democracy. Pick a side, because there won't be another time, another moment, another chance to be a patriot.
You guys have to read this, the guy is near ready to call 911 and report me to the secret police for daring to suggest that I fear that there may be a revolution and want everyone to contact Congress and demand no passage of the Coup Wall Street bill (oh, and did I mention that he calls himself the Confederate Yankee?)
"I can only hope the lawful authorities are monitoring such enticements towards insurrection with all due seriousness, and find a nice, well-lit and cheery cell for those who require one."
Enticements? I did not realize I was standing on a street- corner pulling on my fishnet stockings in hopes of starting a revolt. Now let us examine what I actually wrote - I will bold the key points:
The other option, the one I have long prayed we would never need to even consider, is a total revolution. But, If Congress won't act in its own self-defense, in the defense of democracy, in defense of us - the people who have elected them to protect us from this very danger - then what is left for us to do? I don't want to see it come down to this, but I fear that it will.
Hmmm, sounds like a massive terrorist plot, right? Oh, and don't forget to contact your members of Congress. Seriously, is this guy taking heroin with his coffee? Which part of "I hope against hope" and "I fear" is an enticement for anything that would require me to be arrested and put in jail? Freedom of speech, a no-no in Confederate Americana. Stop by and tell this guy what you think of his hopes that I end up in prison.
Another kook joins the distortion train and swift-boat party. This one is actually now claiming that I am calling for an insurrection (wow, in a few hours they will be claiming that I armed the rebels, and charging the Bastille). And if you read the comments section of this blog, you will find yet more examples of rabid xenophobia and bigotry.
And yet even more stunning? Not a one of them can seem to find the time to react to the unlimited power the Executive Branch is demanding. Perhaps they are too busy eating their racist Obama waffles?
On a side note, please use the phrase "insurrection in bed" in every comment since the right wing requires a distraction, even an imaginary one.
UPDATE 3I have gotten some emails where people appear confused by my use of the Caesar quote. Just to clarify, this is in reference to Bush as Caesar, not my support of Caesar. This is in reference to the massive Bush power grab buried in the bailout "coup" bill. Sorry for any confusion.;)
No one could have seen this coming, right?
Well, actually, the White House has admitted that they drew up the bail out plan months ago:
[White House Deputy Press Secretary Tony] Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough.But the government did nothing real to prevent the financial meltdown. Instead, it let the meltdown happen, and now is trying to ram through terrible and counter-productive legislation drafted previously by using fear tactics.
Does this sound familiar? It should.