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THE ABSURD TIMES
Illustration: The damn thing is a sham and does not help "Main Street"
There is simply no way the mainstream press covers this bailout properly. Even CSPAN can't cover what is really going on as most of this has been carried out in secret. We have heard about taking over assets, a moratorium on foreclosures, increased regulation, in short, a New Deal, a restoration of what has been gutted from what Roosevelt provided. None of this is done. Indeed, we even need more regulation that used to be in place as the economic situation is different. We have hear that all of this is in the bill, but what happened to it?
Later, I'll post on the site the complete transcript from Democracy Now that aired this morning. It is not ready yet, but the House is about to vote on it right now.
Nowhere was the actually wording of the bill available.
The Bill does not require a majority share by the treasury. There is no requirement to prioritize assets. The bill does not "mandate" helping "distressed" households -- the word used is "encourage." Instead of "will" or "must," the words used are more like "may".
Now I've been told my prose is dense. Well, try reading this charade of a Bill, written by politician/lawyers, lawyers who couldn't make it practicing law so opted out for a political career. Now, don't get me wrong, I am very close to some lawyers -- and some of my best friends are lawyers. However, I also know a number of lawyers who are assholes. The problem is that they have a stake in writing prose that nobody can read.
I hear that Waxman and Barney Frank will hold hearings and look into regulations and foreclosure relief -- later, after these crooks have the money! Hell, that's the only leverage we have!
By the time this gets out, the House will probably have passed this mess. However, since tomorrow is a Jewish holiday and money is involved, there will be a recess tomorrow and the Senate will not take it up on Wed. That gives us some time to make ourselves heard.
There is simply no way the mainstream press covers this bailout properly. Even CSPAN can't cover what is really going on as most of this has been carried out in secret. We have heard about taking over assets, a moratorium on foreclosures, increased regulation, in short, a New Deal, a restoration of what has been gutted from what Roosevelt provided. None of this is done. Indeed, we even need more regulation that used to be in place as the economic situation is different. We have hear that all of this is in the bill, but what happened to it?
Later, I'll post on the site the complete transcript from Democracy Now that aired this morning. It is not ready yet, but the House is about to vote on it right now.
Nowhere was the actually wording of the bill available.
The Bill does not require a majority share by the treasury. There is no requirement to prioritize assets. The bill does not "mandate" helping "distressed" households -- the word used is "encourage." Instead of "will" or "must," the words used are more like "may".
Now I've been told my prose is dense. Well, try reading this charade of a Bill, written by politician/lawyers, lawyers who couldn't make it practicing law so opted out for a political career. Now, don't get me wrong, I am very close to some lawyers -- and some of my best friends are lawyers. However, I also know a number of lawyers who are assholes. The problem is that they have a stake in writing prose that nobody can read.
I hear that Waxman and Barney Frank will hold hearings and look into regulations and foreclosure relief -- later, after these crooks have the money! Hell, that's the only leverage we have!
By the time this gets out, the House will probably have passed this mess. However, since tomorrow is a Jewish holiday and money is involved, there will be a recess tomorrow and the Senate will not take it up on Wed. That gives us some time to make ourselves heard.
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