July 27, 2008

Ron Paul on "The Mother of All Bailouts"






Shameful.

Disgraceful.

Welcome to the American Congress, circa 2008. Out of control, morally adrift, paranoid, in the bag of the bankers and REIC, and unethically reckless with the Taxpayer's money.

Simply the best Congress money could buy.


21 comments:

Edgar Alpo said...

We're all flippers now, no, we don't get any profits, but we do get to cover the losses.

The bill would grant $4 billion to states to buy up and rehabilitate foreclosed properties. The funding had been opposed by the White House, which said it would benefit lenders and not homeowners...

Anonymous said...

The housing bill does nothing to help homeowners or homebuyers.

It's a bailout for state and local governments.

The supposed $7500 tax credit is simply a down payment loan to prop up prices so state and local govenments can maintain property tax income.

I'd rather buy a house for $10,000 lower price next year (with lower property taxes on it as well) than buy now with the $7500 government down payment loan.

Afterthought said...

The ball is in the court of our creditors (the Chinese, Japanese, etc.). Congress basically just threw down the gauntlet; they are never paying back the debt. Hanky P. will gladly reimburse T-Bills with other forms of paper, but that paper will be worthless.

Obviously no moves till after the Olympics; and the new administration may be able to buy some time with special pleading; but by 2010 the dollar will be hyperinflating unless we get the policy (not the politics) right.

Anonymous said...

BWA HA HA HA HA HA

BWA HA HA HA HA HA

Game over HP.

Enjoy your 1 bed 1 bath shithole, you will live there for the rest of your miserable and pathetic lives.

Anonymous said...

"...BWA HA HA HA HA HA...

After Rockefeller, truly wealthy people were smart enough to keep a low profile.

The nouveau upper-middle class are crass braggarts in this regard; certainly unwelcome in truly wealthy circles.

Anonymous said...

Note the reporting all CC transactions to IRS.
This is the first step to a national sales tax and the outlaw of cash. They learned in the 1st depression that people will hoard money (run on the banks)which speeds up the bank crisis. Also jobless people cannot be taxed with an income tax and many people went into black markets.
Once the system is up and running cash will be banned and all people must use debt and credit cards ans a 10-20% sales tax will be charged. They make business do thi too so it will be a progressive value-added tax. Europe is already doing this.

Anonymous said...

ron paul is a fuckin idiot. I gave that clown $200 for his campaign along with millions of others who stupidly believed this knucklehead was different. Where is all that money now?? Talk about a fraud. He never did anything with all those millions of donations - he just quietly faded away as a serious candidate. BUT WHERE IS ALL THAT MONEY??? Hey ron paul, I want my donation back you fucking criminal.

Anonymous said...

Don't be quick to praise the Chinese. The Chinese stock market is down roughly 50%. No shorting in that market either. Total meltdown over there. They'll be selling treasuries before you know it.

Anonymous said...

"He never did anything with all those millions of donations - he just quietly faded away as a serious candidate."

If he "faded away" why is he giving a speech about the mother of all bailouts? Wouldn't he just keep quiet like all the other candidates? Think about it.

And to all the yuppies out there who still think government loves you and wants to protect you; look at the all these bailouts for these giant companies...but back in 2005 they made it much harder for the average Joe to file bankruptcy if he needs to.

The government is not on your side. Get a fucking clue.

LibVet said...

"Enjoy your 1 bed 1 bath shithole, you will live there for the rest of your miserable and pathetic lives."

It's very kind of you to be so concerned about me, anonymous poster, but I'm doing fine, thank you.

Tell me, did the bailout bill help you personally? I'll bet the answer is no. Or, perhaps, you are a starving realtor. Is the bailout bill going to make you any money? Probably not. You can't make people buy overpriced houses.

Take a look at this chart.
http://tinyurl.com/6d98cq

Does it look like you are going to start making money again any time soon?

Best Wishes to you and thanks for your imaginative posts.

Devestment said...

Government is a business, we are all their customers.

Anonymous said...

We're all flippers now, no, we don't get any profits, but we do get to cover the losses.

The bill would grant $4 billion to states to buy up and rehabilitate foreclosed properties. The funding had been opposed by the White House, which said it would benefit lenders and not homeowners...
-------------------

Bush will sign the bill since the bill includes the Fannie and Freddie Mac bailout. This is the bush base, Rich Bankers, he will bail them out.

The bill is all but done. It will now be signed by Bush.

Anonymous said...

Ron Paul, a follower of the Austrian school of economics, and the Ludwig von Mises Institute, keeps talking about inflation. I don't get it. If Ron Paul is correct, then the assumptions by our friend, Mish, over at global economic analysis about deflation are totally off base.

Anonymous said...

Anonymous Anonymous said...

BWA HA HA HA HA HA

BWA HA HA HA HA HA

Game over HP.

Enjoy your 1 bed 1 bath shithole, you will live there for the rest of your miserable and pathetic lives.

July 27, 2008 3:40 PM<<<

Where do you live? Under a bridge?

Agent 99 said...

Do the Feds know I visit this website?

Anonymous said...

Congress deserves a little sympathy. After 8 years of Bush's 'War on Fiscal Sanity' they're all probably a little hung-over from the spending binge...

Anonymous said...

Freddie Mac CEO Richard Syron "earned" a modest $19.8 million in 2007. It must be hard work to drive a huge organization into the ground.

http://www.msnbc.msn.com/id/25740405

Anonymous said...

someone please 'splain something to me....

you are all up in arms over the bailout. yet you also say it will have no effect on housing.

so if it will have no effect, why are you panties in such a tight bunch?

Anonymous said...

"Simply the best Congress money could buy."

I think the Libertarians in Washington D.C. got Ron Paul free.

Mark in Philly said...

http://www.govtrack.us/congress/bill.xpd?bill=h110-3221

Sponsor:
Rep. Nancy Pelosi [D-CA]

Cosponsors [as of 2008-07-28]:
Rep. Xavier Becerra [D-CA]
Rep. James Clyburn [D-SC]
Rep. Rosa DeLauro [D-CT]
Rep. John Dingell [D-MI]
Rep. Rahm Emanuel [D-IL]
Rep. Barton Gordon [D-TN]
Rep. Steny Hoyer [D-MD]
Rep. Tom Lantos [D-CA]
Rep. John Larson [D-CT]
Rep. Edward Markey [D-MA]
Rep. George Miller [D-CA]
Rep. James Oberstar [D-MN]
Rep. Collin Peterson [D-MN]
Rep. Nick Rahall [D-WV]
Rep. Charles Rangel [D-NY]
Rep. Christopher Van Hollen [D-MD]
Rep. Nydia Velázquez [D-NY]
Rep. Henry Waxman [D-CA]

AndyfromSimi said...

One thing I learned over my many years is to never think that Wall Street is your friend. Wall Street only does what is GOOD for Wall Street!

This Bailout bill is only good for Wall Street... all of us good citizens will be bending over soon!