Thought provocative Karl Denninger video for our readers' perusal, as the U.S. House of Representatives prepares to vote on the banking industry's $700 billion bailout bill... this very morning (the Senate will reportedly vote on the bill later this week):
Don't forget to read Mr. Denninger's companion article.
For those readers who haven't yet taken action on this impending taxpayer ripoff... there's still time to contact your congresscritters and register your objections. (According to Mr. Denninger, public opinion is running anywhere from 100:1 to 300:1 against the bill to date.)
Here's a handy link through which you can contact our Utah congressional delegation about this:
Utah congressional delegation contact links
Whether you're opposed to this bill or not, we hope our readers will take action to urge our congressional delegation to take a little more time to debate and deliberate on this. As it presently stands, this bill seems to be the same type of ill-considered rush to judgment that brought us the Iraq War and the Patriot Act. At the very least, we believe all Americans should be extremely wary of any grand plan that's shoved down the taxpayers' throats, without a reasonable amount of public debate.
Emerald City lumpencitizens are painfully aware of the problems that inevitably arise, when drastic actions are undertaken by government officials without adequate public discussion, of course.
And what say our gentle readers about all this?
5 comments:
Anonymous
said...
I have read the 105 page bill to be voted on.
We will be using taxpayer funds to pay to any foreign bank licensed to do business in the U. S.
The $500,000.00 cap on executive compensation is a joke. The $500,000.00 can be deducted by the corporation for tax purposes but the corporation can actually pay hundreds of millions but just not use it as a tax deduction.
Sec. Paulson has seen to it that his pals have survived with taxpayer aid. If your corporation isn't on his 'save' list you won't be getting a dime.
Sec. Paulson should have resigned a long time ago.
The sad part is that both candidates for president of the U.S. do not have a clue as to what all this means.
I read several news stories over the weekend regarding the Main Street Opposition to this drive by bailout. For ever one call or e-mail our congressmen or senators get in support of the bailout, they get 90 others that either flat out oppose it or ask that they take their time on a bill and not rush to support the current 'compromise.'
If this bill passes today, it will be a failure of Democracy. We need to ensure that any person who votes for this bailout, without further discussion of viable alternatives, does not serve another term.
5 comments:
I have read the 105 page bill to be voted on.
We will be using taxpayer funds to pay to any foreign bank licensed to do business in the U. S.
The $500,000.00 cap on executive compensation is a joke. The $500,000.00 can be deducted by the corporation for tax purposes but the corporation can actually pay hundreds of millions but just not use it as a tax deduction.
Sec. Paulson has seen to it that his pals have survived with taxpayer aid. If your corporation isn't on his 'save' list you won't be getting a dime.
Sec. Paulson should have resigned a long time ago.
The sad part is that both candidates for president of the U.S. do not have a clue as to what all this means.
Domestic Enemies of the Constitution
I read several news stories over the weekend regarding the Main Street Opposition to this drive by bailout. For ever one call or e-mail our congressmen or senators get in support of the bailout, they get 90 others that either flat out oppose it or ask that they take their time on a bill and not rush to support the current 'compromise.'
If this bill passes today, it will be a failure of Democracy. We need to ensure that any person who votes for this bailout, without further discussion of viable alternatives, does not serve another term.
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