Who voted for and against the Bailout Bill in the Senate?

Ten Reasons Not To Bail Out Wall Street
Catherine, Geopolitical, Life and News & Commentary,
October 1, 2008 at 6:10 pm

by Catherine Austin Fitts and Carolyn Betts, Esq.

(1) Crime that pays, is crime that stays.

There is reason to believe that Wall Street and those they represent are holding loans without collateral, multiple loans secured by the same properties, and other fraudulent instruments among the “troubled assets.” Based on the secret “Treasury Conference Call” with 800 Wall Street insiders, we know the deal proposed to be passed by Congress isn’t the real deal promised to Wall Street.

Read more: http://solari.com/blog/?p=1646

Texas should take lessons.

I would like to take this opportunity to spread my thoughts on how to help reduce some of the mortgage problem we are facing.
Allow those who have 401(k)'s and IRA's to make a one time withdrawal from their account with no penalties or taxation. This should not be a loan to be repaid to yourself. This would go straight to a lending institution to either reduce or pay off a mortgage debt or allow those who need to make up a loss in housing price, refinance there home to a fixed mortgage.

Two fold positive. First, bankers get funding they need, second, the extra income each who pays off a note, has more to spend on the economy each month.

Interesting idea, but I think the argument you would hear from Congress, the Treasury Department and the Federal Reserve is savings by Americans are already at an all-time low. Leveraging the future for the present just delays the bigger problem by maybe 10 or 15 years.

The real issue is we live in a debt-based economy. Whether that is a good or bad thing is not for me to judge, it's just how our current economic system works. Many might say "if only people could pay off their debts, we wouldn't have these issues". The reality is our economy needs debt to exist. Banks loan out money which in turn is paid to others, and those receivers then put the money back into the bank system where it is loaned out again, generating more credit.

Inflation here is the key. If too much currency is put into the system, it will eventually collapse. This is the risk we face with such bailouts.

I think this is an excellent idea. Largely because by allowing these simple things it exposes real intent!

I don't believe it is the solution 'they' are looking for because it does indeed help solve the stated problem of liquidity for the taxpayer, but not the real problem - out of control printing presses. It further exposes that 'they' have no intention of solving the real problem - the Federal Reserve System (can you say private corporation of international bankers?)

Way too many in Congress understand this - they will even tell you it is a 'bad' bill, but they must do it anyway - which makes them complicit and not fit for office. They are shredding the constitution as we speak. The only real solution IMO is to End the Fed! It is a private corporation and should not be bailed out by taxpayers.

We need to put the international bankers out of business instead of bailing them out and putting the burden on the taxpayer. We are in the process of doing exactly the wrong thing and will extend and exacerbate the problem.

Let the free market work and end the fed IF you really want to see things turn around. The spiral we are on is downward and leads to complete failure of our economy.

END the FED . . . (before it is too late!)

complete article here:
http://www.realclearpolitics.c...

article will take you to bottom line - No votes for the bailout!
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Here's what I sent to Tom Coburn, and what I intend to send to Tom Cole, should his website ever actually come up again:

Greetings, Senator,

I'm writing to express my disapproval of your recent yay vote on the bailout package. Good intentions aside, the only thing that could prompt such a vote, in my estimation, is either a woeful lack of understanding of the constitutional limits imposed upon government, or a complete lack of regard for the same. I'm going to find it very hard to vote for you for any office you may pursue in the forseeable future, and you have no idea how much it breaks my heart to type that.

Sincerely,

Very well stated. My call to each of the senators office were not as polite. I think my message was very clear though.

Ron, True, it is about the cycle of the dollars in circulation. The plan would not benefit all, but it is money I and many others have already put away for future use. This could make a big difference in the amount that must be printed to continue supporting the banks. Freeing liquidity that is stored rather then creating out of thin air. If just 10,000 home owners paid 50k ea. = 500 mil. multiply that by 2, 5, 10 times and now you are talking about the kind of money the Fiat Reserve is asking of the tax payer right now.

The up side is that more of our check is freed up to spend on the economy or save and store starting at a lower market price again. Some of us are young enough to make this work to our benefit.

The true fix is to abolish the Fiat Reserve. Buy Silver, Palladium and Gold bullion.

http://bullion.nwtmint.com/

Dr. Ron Paul wrote

"We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy – all the capital misallocation, all the malinvestment – and prevent the market’s attempt to re-establish rational pricing of houses and other assets."

Regards,
Marty